#United States #New York #Eagle Creek #GDEV Management #Relevate Power

Strategic Partnership to Expand Hydropower Operations

In a significant development in the renewable energy sector, Relevate Power, supported by GDEV Management, has announced a strategic partnership with Eagle Creek Renewable Energy. This collaboration aims to improve and expand their portfolio of small hydropower assets across North America. This partnership is poised to enhance operational efficiency and elevate the role of hydropower as a reliable energy source during a period of increasing electricity demand.

The collaboration between Relevate and Eagle Creek is set to leverage Relevate’s expertise in redevelopment and Eagle Creek’s extensive operational experience. By combining their strengths, both companies aim to tap into operational and cost efficiencies, ultimately leading to enhanced service delivery for their respective customer base. The immediate plan involves Eagle Creek taking over the management of Relevate’s run-of-river hydroelectric projects, ensuring a seamless transition while enhancing operational capabilities. The current local operators working with Relevate will move to Eagle Creek, ensuring continuity while capitalizing on the scale that Eagle Creek brings as one of the largest players in the hydropower sector.

Neal Simmons, the CEO of Eagle Creek, emphasized the significant market growth in hydropower, highlighting that the sector is experiencing a surge in demand: "The hydropower market is in a period of significant growth as electricity demand surges beyond current generation levels. Our operational expertise will allow us to oversee Relevate's projects, paving the way for the provision of clean, reliable energy to communities."

This partnership does not emerge in a vacuum. It is bolstered by previous investments made by GDEV Management and Apollo Funds who provided the necessary financing that facilitated Relevate's acquisition of Gravity Renewables in late 2024. With support from the Department of Energy, which awarded Relevate a grant of $4.9 million aimed at enhancing the efficiency of hydroelectric facilities, the companies are well-positioned to lead advances in the sector.

Benjamin Baker, Managing Partner at GDEV Management, expressed his optimism regarding the partnership, stating, "Together with Eagle Creek, we're strengthening Relevate's business model, which focuses on providing operational improvements to underperforming hydro facilities. This collaboration will not only enable Relevate to scale its operations significantly but also ensure long-term value for both our investors and partners."

About the Companies

GDEV Management is a private equity firm focusing on sustainable infrastructure, specifically targeting industries such as renewable energy and energy efficiency. The firm partners with management teams to support long-term growth and operational enhancement across complex businesses.

Relevate Power was formed in 2022, focusing on redeveloping underutilized hydropower plants to supply affordable, clean energy, especially to rural communities. With a robust backing from GDEV Management, the company aims to redefine the hydropower landscape by maximizing the utility of existing resources.

Eagle Creek Renewable Energy operates an impressive portfolio of 85 hydroelectric facilities spread across 18 states, emphasizing low carbon energy solutions. With nearly 700 MW in capacity, it stands as a leading independent hydro entity in the United States, generating enough electricity to power over 260,000 homes.

As this partnership unfolds, it is expected to mark a turning point in the hydropower sector, demonstrating the potential for collaboration in addressing the rising demand for clean and sustainable energy solutions.