FirstLight Power has acquired two Western Pennsylvania hydroelectric facilities with a total capacity of 31.3MW from H2O Power.
Located on the Allegheny River, the 13.6MW Allegheny 8 project and 17.9 MW Allegheny 9 project are located at existing federal lock and dam facilities operated by the US Army Corps of Engineers. 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 said it is contining the growth of the it’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.”
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 for FirstLight. In February, it 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 NY 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.