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Gravity Renewables acquires two hydroelectric projects in Connecticut and Virginia

Published 18 May 2017

Gravity Renewables has acquired two hydroelectric facilities located in Connecticut and Virginia.

The purchase of the Quinebaug and 5-Mile Project in Connecticut and the Moomaws facility in Virginia adds to Gravity’s growing portfolio.

“These projects are a natural addition to our portfolio,” said Ted Rose, Gravity Renewables’ CEO. “Moomaws, our first purchase in Virginia, strengthens Gravity’s presence in the Southeast, while the Connecticut projects solidify our presence in southern New England.”

“We are pleased to hand over the keys to Gravity Renewables” said Bill Allin, one of the previous owners. “We are confident that Gravity has the experience and operational skills to ensure the projects continue to serve the regions with clean, reliable power well into the future.”

Collectively, the newly-acquired run of river hydro projects will generate enough clean energy to power approximately 1,000 average U.S. households per year.  Gravity assumes ownership effective immediately.



Source: Company Press Release