Expanding our operations, anticipating change Acquisition of Great River Hydro

A European breakthrough

Since July 22, the stability and security of the French power transmission system in the Bourgogne–FrancheComté region has been ensured by Tonnerre, a battery energy storage system from our subsidiary EVLO. Chosen by Innergex, this technology has a capacity of 9 MW.

In addition to increasing the stability and resilience of current and future power grids, EVLO’s storage systems facilitate the integration of variable energy sources like wind and solar power by storing the renewable energy generated and making it available when needed. Its energy storage solutions, which are IEC 62933-certified and UL 9540A-tested, are recognized for their superior thermal stability and meet electric utilities’ stringent performance requirements.

EVLO’s battery energy storage solution is the culmination of several decades of research and development at Hydro-Québec’s research institute, IREQ, which has developed cutting-edge expertise in battery chemistry based on lithium iron phosphate (LFP) technology.

Improved market modeling capabilities

In 2022, Hydro-Québec continued to build on the long-term modeling capabilities for northeastern U.S. electricity markets that we developed in 2021. We hope to better anticipate the impact of the profound changes set to accompany decarbonization efforts in this vast region. One of our main observations is that the market penetration of renewable and variable energies, such as photovoltaic and wind power, will require the use of complementary technologies. It is therefore becoming increasingly important to determine the fair value of the flexibility that Québec’s hydroelectric fleet can provide to the U.S. Northeast, which can now be quantified by analyzing various scenarios.

Hydro-Québec has acquired Great River Hydro, the owner of 13 hydroelectric generating stations and associated reservoirs on the Connecticut and Deerfield rivers in New England. More than just an investment supporting the objectives of our Strategic Plan, the acquisition is also an opportunity to expand our operations in a market where we have already put down strong roots.

With this long-term investment, Hydro-Québec now possesses the largest hydropower fleet in New England, where ambitious decarbonization and electrification objectives have been set and the quantity of electricity generated from variable renewable energy sources is up sharply.

The assets have a total installed capacity of 589 MW, 38 GWh of storage capacity and a long-term average annual output of 1.6 TWh. The Great River Hydro generating stations are on the Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts. They supply power to over 213,000 New England homes every year.

The acquisition of Great River Hydro was concluded on February 10, 2023, after all required regulatory approvals were obtained, including those from the Vermont Public Utility Commission and the Federal Energy Regulatory Commission.