SUEZ Energy North America Affiliate Signs Agreement to Acquire FirstLight Power Enterprises, Inc.

SUEZ Energy North America and FirstLight Power Enterprises, Inc. announced the signing of an agreement to acquire FirstLight from Energy Capital Partners. FirstLight owns and operates a unique portfolio of 15 power generation plants — primarily pumped storage and traditional hydro facilities — and has a state-of-the-art natural gas peaking facility in advanced development. Together, these 16 facilities have a combined capacity of 1,538 MW in Massachusetts and Connecticut. In addition, FirstLight has various expansion opportunities within its portfolio.

“The FirstLight portfolio offers tremendous scale to SUEZ Energy’s power generation position in the critical New England market as the company’s 16 plants, when combined with our own current assets, will make us the fifth largest generator in New England,” said Zin Smati, president and CEO of SUEZ Energy North America. “Of equal importance are the high quality of the employees and the diversity of FirstLight’s assets by generation type and by location as they are within Massachusetts and Connecticut, the two most populous states in the region.”

“FirstLight will complement SUEZ Energy’s existing group of generating assets in New England and eastern Canada and will solidify our presence in a sizable and growing electricity market,” said Dirk Beeuwsaert, CEO of GDF SUEZ Energy International. “The FirstLight facilities have an excellent operating track record and strategic location. We believe these facilities will make an immediate contribution to the group and are pleased with the company’s growth opportunities.”

“This transaction represents a win-win as it is beneficial to FirstLight’s constituents and enhances an already strong business position for GDF SUEZ in North America,” said Curt Morgan, President and CEO of FirstLight Power Enterprises. “We are very enthusiastic about our business combining with one of the world’s preeminent energy companies.”

New England, with a population of 14 million and 31,000 MW of electric generation capacity, is a core market for SUEZ Energy. The company currently has six renewable and natural-gas-fired power generation assets in the region; retail electricity sales to large commercial and industrial customers; and natural gas sales to nearly every gas utility in New England through its liquefied natural gas (LNG) business.