H2O Power LP announced February 11 that it had acquired a 100% ownership interest in two run-of-river hydroelectric facilities located in Pennsylvania. The two projects are known as Allegheny 8 (13.6 MW) and Allegheny 9 (17.9 MW).
The two projects comprise 31.5 MW of baseload nameplate capacity located on the Allegheny River in Armstrong and Indian Counties, Pennsylvania, within the Pennsylvania-Jersey-Maryland power market. The assets are interconnected into the New York Independent System Operator.
H2O Power acquired the Allegheny 8 & 9 facilities from the Public Sector Pension Investment Board, who had purchased them in May 2015 with the intent to sell them to H2O, its North American hydro platform. The terms of the transaction between H2O and PSP Investments were not disclosed.
The Allegheny 8 & 9 facilities together generate approximately 200GWh annually. The capacity and energy generated by the Allegheny 8 & 9 facilities are sold to New York State Electric & Gas Corporation under a long-term power purchase agreement. In addition, the projects sell Renewable Energy Credits in Maryland as Class I qualified facilities.
Recently, PSP Investments (H2O’s majority shareholder) also announced that it has entered into a definitive agreement to acquire 13 hydroelectric facilities representing 1,400 MW of nameplate capacity in Massachusetts and Connecticut. H2O will operate the projects on behalf of PSP. This transaction is expected to close in a few months.
H2O’s Canadian sites include 8 hydroelectric generating stations, 2 control dams and 130km of transmission lines in Northern Ontario. H2O operates 136.5 MW of generating capacity, with annual energy production of over 835GWh, making them the third largest provider of hydroelectric power in Ontario. All of H2O’s Canadian generating stations are operated remotely from its Oshawa Control Center in Oshawa.