Gravity Renewables Acquires Hydroelectric Projects in Connecticut and Virginia

Danielson, CT – Gravity Renewables, a leading national owner and operator of small hydro projects, 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.

“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.

 

About Gravity Renewables

Gravity Renewables is a leading national owner, operator and developer of small hydroelectric power plants. Small hydropower provides predictable, reliable, affordable clean energy that’s locally produced. By making a long-term commitment to these neighborhood facilities, Gravity restores and conserves important historical sites, employs local operators and promotes educational and recreational opportunities in the communities it serves. Gravity currently has more than 40 MW of hydroelectric projects operating and under development across the country.  For more information, please visit www.gravityrenewables.com or contact us at 303.440.3378. Follow Gravity Renewables on Twitter or Facebook.

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