Colorado-based operator Gravity Renewables has acquired a pair of small hydropower projects in New York, adding a cumulative 10 MW of capacity to the company’s growing portfolio.
Included in the acquisition are the 8-MW Seneca Falls and 2-MW Waterloo plants, located in New York’s Finger Lakes region. The plants were completed in 1917 and 1916, respectively, to utilize the increased water volume and elevation required to operate the newly-completed Seneca-Cayuga branch of the Barge Canal.
Ownership of the plants has changed hands a number of time in the ensuing decades, though the pair were most recently purchased in 2001 by the American Energy Company under the Seneca Falls Power Corp.
“The Seneca Falls and Waterloo hydro facilities are a perfect fit for Gravity,” company CEO Ted Rose said. “Nearly a century old, these facilities deserve to be both preserved for their historical significance and to continue to provide clean power to central New York.”
Financial details of the acquisition were not disclosed.
Power generated by the plants will be sold under a long-term operating agreement to Tompkins County, which is a power aggregator and member of the Municipal Electric and Gas Alliance (MEGA) that serves about 300 New York counties and municipalities.
“Gravity has once again proven its commitment to New York State counties and municipalities by preserving small hydropower and the local economic development benefits that come with it,” MEGA CEO Ron Feldstein said.
HydroWorld.com reported in August that Gravity Renewables had acquired the 2.78-MW Wyre Wynd project in Connecticut, adding to a fleet that now includes 10 small hydropower projects in the northeastern United States.
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