Great River Hydro transitions ownership under new investor in 2023

The Vermont Senate Finance Committee meeting on March 13, 2025, focused on the ownership history of a significant hydroelectric facility in the state. The discussion highlighted the various transitions in ownership over the years, emphasizing the impact of deregulation and corporate changes on the facility's management.

Originally owned by Napoleon Power, the facility changed hands in the late 1990s when it was sold to the US Generating Company, a subsidiary of PG&E. Following PG&E's bankruptcy in 2005, TransCanada Corporation acquired the property and established TransCanada Hydro Northeast, Incorporated. In 2017, TransCanada sold the company to SoftBank Capital, a private equity firm based in Boston, which led to a rebranding of the company as Great River Hydro.

The committee noted that despite the changes in ownership and branding, the operational structure of the facility remained consistent. Most recently, in February 2023, a new investor took over, marking yet another chapter in the facility's ownership history.

This ongoing evolution of ownership reflects broader trends in the energy sector, particularly in how deregulation has influenced corporate strategies and investments in renewable energy resources. The committee's discussions underscore the importance of understanding these changes as they relate to energy policy and infrastructure in Vermont.