Columbia County, NY – Gravity Renewables completed its acquisition of Chittenden Falls Hydropower Inc., the owner of the Chittenden Falls Hydro Project in Columbia County, New York, the company announced. The facility currently produces roughly 2,600,000 kilowatt hours each year, enough to power 275 homes.
Financial terms of the transaction were not disclosed.
“Chittenden is one of the classic small hydroelectric projects of New York,” said Mark J. Boumansour, Chief Development Officer at Gravity. “It’s a great addition to our growing portfolio of small hydro plants and we look forward to improving the project to make it even better.”
Gravity will keep the plant’s operating team in place and make investments to improve the plant’s safety, operations and productivity.
“Gravity is a great company to be working with,” said James Scully, one of the previous owners. “Their principals back their statements with action.” The former Chittenden ownership team will continue working with Gravity as consultants.
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 30 MW of hydroelectric projects operating and under development in 7 states 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.