Relevate announces acquisition of Gravity Renewables

Relevate Power announced its acquisition of Gravity Renewables, with financing provided by funds managed by Apollo. The acquisition adds 40 MW of high-quality assets to Relevate Power’s portfolio, more than doubling the company’s power generation capacity and bringing on board an experienced operating team. This acquisition strengthens Relevate Power’s footprint in the Northeastern United States, where the company’s 21 legacy plants are located, and where it plans to locate its new remote operations center. Along with Gravity’s 15 hydroelectric plants and one solar project, the acquired assets have been awarded over $20 million in grants from the Department of Energy.