The company enters the PJM and New York electricity markets with the addition of 31.5 MW of baseload capacity from two run-of-river hydroelectric facilities on the Allegheny River
BURLINGTON, Mass., May 02, 2022–(BUSINESS WIRE)–FirstLight Power, a leading clean provider of renewable energy and energy storage resources, today announced the company has acquired two Western Pennsylvania hydroelectric facilities from H2O Power, a leading owner and operator of hydroelectric facilities in Ontario, Canada. Located on the Allegheny River and totaling 31.5 MW of baseload capacity, Allegheny 8 and Allegheny 9 are two run-of-river hydroelectric facilities that have provided a source of reliable, clean energy to the region for over three decades. Currently, the facilities are providing their hydropower to the New York market under a long-term power purchase agreement with New York State Electric and Gas Company (NYSEG). With the strategic acquisition, FirstLight continued the growth of the company’s clean energy portfolio while expanding its footprint into the PJM and New York electricity markets.
“With several strategic partnerships and acquisitions, 2022 has been an exciting year of growth for FirstLight, and we are pleased to now be able to directly deliver clean energy to New Yorkers on a daily basis through our acquisition of the Allegheny hydroelectric facilities,” said Alicia Barton, President and CEO of FirstLight. “We are also excited to welcome the Allegheny Hydro employees to our talented FirstLight team who collectively possess vast experience operating renewable and storage assets – both of which will be vital as we continue our expansion into new markets across North America.”
Situated approximately nine miles apart on the Allegheny River, the 13.6 MW Allegheny 8 project and 17.9 MW Allegheny 9 project are run-of-river hydroelectric stations located with existing federal lock and dam facilities operated by the US Army Corps of Engineers. The stations currently provide clean electricity to New York along a 40-mile transmission corridor, which is also part of the acquisition. As part of the transaction, which was completed on May 1, 2022, FirstLight will add five members of the Allegheny Hydro operations team.
The Allegheny acquisition follows several strategic partnerships that have further solidified FirstLight as a leading owner and operator of critical energy storage and renewable energy assets. In February, FirstLight announced a new partnership in Connecticut to advance new hybrid renewable energy projects across the state and the company was part a successful investment consortium that secured a lease in the recent New York Bight Offshore Wind auction. In March, the company announced a strategic partnership with Borrego to develop new solar and storage generation at FirstLight’s existing hydropower facilities in Massachusetts and Connecticut. These collaborations will advance the company’s commitment to help accelerate the Northeast’s path to a fully decarbonized electric grid.
About FirstLight Power
FirstLight Power (FirstLight) is a leading clean power producer, developer, and energy storage company serving North America. With a diversified portfolio that includes over 1,400 megawatts of operating renewable energy and energy storage technologies, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage, utility-scale solar, large-scale battery, and offshore wind assets. The company’s mission is to accelerate the decarbonization of the electric grid by supporting the development, operation, and integration of renewable energy and storage solutions to advance an electric system that is clean, reliable, affordable, and equitable. Based in Burlington, MA, with operating offices in Northfield, MA and New Milford, CT, FirstLight is a steward of more than 14,000 acres and hundreds of miles of shoreline along some of the most beautiful rivers and lakes in the Northeast. To learn more, visit www.firstlightpower.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005189/en/
Len Greene, Head of Government Affairs & Communications
Cell: 203-232-7267, Email: email@example.com
Travis Small, Slowey McManus Communications
Cell: 617-538-9041, Email: firstname.lastname@example.org