FirstLight Power, a Massachusetts-based clean power producer, is expanding its presence in Northern Ontario.
FirstLight Power announced it has finalized an agreement to acquire Hydroméga Services and ownership of five hydropower generating stations in northeastern Ontario and five stations in Quebec.
The Ontario stations include four 5.5-megawatt operations in Kapuskasing – Big Beaver Falls, Camp Three Rapids, White Otters Falls and Old Woman Falls – and a 10-megawatt plant southeast of Sudbury on the French River at Dokis, named Okikendawt.
As well, FirstLight picks up all of Hydroméga’s wind, solar, storage and hydroelectric projects that are in the development pipeline.
A Sept. 13 news release from FirstLight said the transaction is expected to close in this year’s fourth quarter, subject to customary closing conditions.
“The strategic acquisition of the Hydroméga platform continues an exciting and transformational period for FirstLight,” said Alicia Barton, president-CEO of FirstLight.
“By adding Hydroméga’s development capabilities and operational assets to FirstLight’s existing diversified renewables and energy storage portfolio, we will position ourselves for even greater growth in the years ahead as we pursue our mission to accelerate the decarbonization of the electric grid by building, operating, and integrating renewable energy and storage to meet the world's growing clean energy needs.
Want to read more stories about business in the North? Subscribe to our newsletter.
“We look forward to working with the talented team at Hydroméga and their First Nations and local government partners to deliver clean, reliable power to the communities of Québec, Ontario and beyond.”
Last April, FirstLight (integrated) H2O power, Ontario’s third largest provider of hydroelectric power, into the fold. H2O owned eight hydroelectric facilities, three control dams and 140 kilometres of transmission lines in Northern Ontario, all operated remotely from Oshawa.
Following the H2O Power integration, the addition of these latest assets gives FirstLight a combined operating capacity of more than 200 megawatts in Quebec and Ontario.
Hydroméga is regarded as a pioneer in Canadian renewable energy production and development production in Quebec for 36 years and 20 years in Ontario.
In 1987, the company was the first independent power producer to operate hydroelectric facilities in Quebec and was also one of the first wind developers in the province, having successfully originated 1,000+ megawatts, representing more than 25 percent of the installed wind power capacity in Quebec.
