Gravity Renewables acquired two hydroelectric facilities

Gravity Renewables announced that it has completed the acquisition of 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.

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

One of the previous owners, Bill Allin said that they are pleased to hand over the keys to Gravity Renewables. They 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.

Image: Quinebaug-Five Mile Pond Hydroelectric Project (Source: Gravity Renewables)