B.Grimm Acquires 25% Stake in US Hydropower Operator NERH for $230 Million
B.Grimm Power Pcl has acquired a 25% stake in New England Reliable Hydropower Holdings LLC for $230 million, marking its largest investment in the U.S. to date. The acquisition, finalized on January 9, enhances B.Grimm's international renewable energy portfolio, as NERH operates 26 hydropower plants with a total capacity of 406 megawatts. This move aligns with B.Grimm's goal to achieve 10,000 megawatts of installed capacity by 2030.
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B.Grimm Power Pcl has purchased a 25% stake in New England Reliable Hydropower Holdings LLC for $230 million, enhancing its renewable energy presence in international markets. The acquisition, completed on January 9 through BGP Holding (US) LLC, follows a purchase agreement signed on July 10.
NERH operates 26 hydropower plants with a combined capacity of 406 megawatts and 8 megawatts of battery storage, primarily in Maine and New Hampshire. This investment is B.Grimm's largest in the U.S. to date, following a $69.5 million investment in a 30-megawatt hydropower project in California. B.Grimm aims to reach 10,000 megawatts of installed capacity by 2030 and currently operates projects in 15 countries totaling approximately 4,200 megawatts.
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