FirstLight Power
FirstLight Power is a privately held, PSP Investments-owned clean electricity operator generating power from hydroelectric, pumped hydro storage, solar, and battery assets in the US and Canada, selling to municipal utilities and grid operators under long-term PPAs.
- Company typePrivate
- Founded2016
- HeadquartersBurlington, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What FirstLight Power does
FirstLight Power is a privately held clean electricity generator and energy storage operator headquartered in Burlington, Massachusetts, with additional offices in Montreal, Oshawa, Turners Falls, and Northfield. The company is wholly owned by PSP Investments, a Canadian pension investment manager, following PSP's 2016 acquisition. FirstLight operates a diversified portfolio of hydroelectric generation, pumped hydro energy storage, solar, and battery storage assets, anchored by the 1,168-MW Northfield Mountain Pumped Hydro Energy Storage facility in Massachusetts — one of the largest pumped storage installations in the United States. Its US portfolio includes 14 hydroelectric stations and three operational solar and battery storage facilities across Massachusetts, Connecticut, and Pennsylvania. In Canada, FirstLight operates through two wholly owned subsidiaries, H2O Power and Hydromega Services Inc. (acquired in 2023), with 10 hydroelectric stations in Quebec and Ontario and a development pipeline exceeding 2 GW of wind, solar, storage, and hydro projects.
FirstLight generates revenue primarily through long-term power purchase agreements (PPAs), wholesale electricity market sales, and grid services. The company has signed a landmark municipal utility PPA with Energy New England covering 21 public power entities in New England for 197 GWh/year of clean hydropower, and a 20-year PPA with Ontario's Independent Electricity System Operator (IESO) for the 57.2-MW Fort Frances Solar Project. Distribution is entirely business-to-business: FirstLight does not serve retail electricity customers, instead operating through enterprise sales and competitive procurement processes targeting municipal utilities, provincial grid operators, and institutional wholesale buyers. Strategic Indigenous co-development partnerships — including 50% ownership with Lac Des Mille Lacs First Nation in the Fort Frances Solar Project and a decade-long partnership with Dokis First Nation on the Okikendawt Hydroelectric Project — form a core element of its development model in Canada.
In May 2026, PSP Investments agreed to sell FirstLight's US operations (~1.4 GW portfolio) to Hull Street Energy, a private equity firm focused on power infrastructure, while retaining the Canadian platform under PSP ownership. The transaction, expected to close in late 2026 subject to regulatory approvals, effectively restructures FirstLight into a Canadian-focused clean energy operator with the US business transitioning to new ownership.
FirstLight Power firmographics
Firmographics- Name
- FirstLight Power
- Legal name
- FirstLight Power
- Website
- https://firstlightpower.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- FirstLight Power is a privately held, PSP Investments-owned clean electricity operator generating power from hydroelectric, pumped hydro storage, solar, and battery assets in the US and Canada, selling to municipal utilities and grid operators under long-term PPAs.
- Ownership category
- akta.pro rank
FirstLight Power industry classification
Industry- Product category
- Renewable Power Generation
- NAICS
- Hydroelectric Power Generation (221111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Pumped-Storage Hydroelectric Generation (EUACAEAC)
- akta.pro secondary industries
- Reservoir/Impoundment Hydroelectric Generation (EUACAEAB), Hydropower Grid Integration & Ancillary Services (Frequency/Voltage Support) (EUACAEAL)
Keywords
Where FirstLight Power is headquartered
LocationHeadquarters
- HQ city
- Burlington
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
FirstLight Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D
Revenue model
- Wholesale Electricity Generation and Sales: FirstLight generates electricity through its hydroelectric facilities, pumped storage, solar, and battery storage assets and sells power through PPAs and wholesale electricity markets to utilities and municipal public power entities.
- Power Purchase Agreements: Long-term contracts with utilities and grid operators (IESO, municipal utilities) for electricity supply from specific generation facilities, providing contracted revenue over 20-year terms.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
FirstLight Power product offering
Product offeringCore offering
FirstLight Power generates and sells wholesale clean electricity from a diversified portfolio of assets including the 1,168-MW Northfield Mountain pumped hydro energy storage facility, 14 hydroelectric stations, and three operational solar and battery storage facilities in the US, complemented by Canadian wind, solar, hydro, and storage assets under the H2O Power and Hydromega platforms. The company delivers power to utilities, municipal public power entities, and provincial grid operators primarily through long-term power purchase agreements, and provides grid stability and energy storage services through its pumped hydro assets.
Product overview
FirstLight Power operates a diversified clean energy portfolio consisting of hydroelectric generation assets (including the 1,168-MW Northfield Mountain pumped storage facility and 14 hydroelectric stations), solar and battery storage facilities, and development pipelines across North America. The company operates through two main platforms: H2O Power and Hydromega for Canadian operations, with US operations centered on Massachusetts, Connecticut, and Pennsylvania. The company also offers municipal utility power purchase agreements, enabling 21 New England municipalities to purchase clean hydropower.
Differentiator
Problem solved
Functional benefit
Products and services
- Northfield Mountain Pumped Hydro Energy Storage Facility A 1,168-MW pumped hydroelectric energy storage facility in Massachusetts that stores excess power and releases it during peak demand, providing grid stability and supporting integration of variable renewable generation for utilities and grid operators.
- Hydroelectric Generation Portfolio A portfolio of 14 hydroelectric generating stations across Massachusetts, Connecticut, and Pennsylvania that produces clean baseload and dispatchable power sold under long-term PPAs and into wholesale markets.
- Solar and Battery Storage Facilities Three operational solar PV and battery energy storage facilities in the United States (Massachusetts, Connecticut, Pennsylvania) that supply renewable generation and grid services to utilities and wholesale markets.
- Fort Frances Solar Project A 57.2-MW utility-scale solar generation project in Ontario, developed in 50/50 partnership with Lac Des Mille Lacs First Nation and supplying clean electricity to Ontario's grid under a 20-year Power Purchase Agreement with the IESO.
- H2O Power Canadian Platform FirstLight's Canadian operating platform running wind, solar, hydroelectric, and battery storage projects in Quebec and Ontario, providing clean generation and grid services to the Canadian market.
- Hydromega Canadian Operations Acquired Canadian operating subsidiary comprising five hydroelectric stations in Quebec and five in Ontario, plus a development pipeline of over 2 GW of wind, solar, storage, and hydro projects, expanding FirstLight's North American footprint to approximately 4 GW.
- Fort Frances Generating Station A 13.1-MW hydroelectric generating station on the Rainy River in Ontario, operational since 1909, that supplies clean baseload power as part of FirstLight's Canadian generation portfolio.
Quantifiable outcome
- The Fort Frances Solar Project (57.2 MW) will generate enough electricity to power approximately 8,000 homes
- +2 more outcomes
Companies that use FirstLight Power
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
FirstLight Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
FirstLight Power partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Foley HoagminorFoley Hoag served as legal advisor to PSP Investments on the transaction to sell FirstLight's US operations to Hull Street Energy. This is a one-time advisory engagement for the transaction rather than an ongoing partnership.
- Lac Des Mille Lacs First NationcoreFirstLight and Lac Des Mille Lacs First Nation entered a 50% partnership for the Fort Frances Solar Project (57.2 MW) in Ontario. The project was awarded through IESO's Long-Term 2 procurement process. First Nations hold a 50% stake in the project, which operates under a 20-year contract term and will power approximately 8,000 Ontario households.
- Energy New EnglandcoreFirstLight expanded its landmark municipal utility power purchase agreement with Energy New England, under which 21 New England municipal public power entities purchase 197 GWh/year of clean hydropower from FirstLight's hydroelectric facilities. The agreement includes power from the Falls Village Generating Station on the Housatonic River in Connecticut.
- Dokis First NationcoreFirstLight and Dokis First Nation celebrated 10 years of partnership on the Okikendawt Hydroelectric Project in Dokis, Ontario in 2024. The project represents a long-standing Indigenous community partnership in hydroelectric development and operation.
- Hydromega Services Inc.coreFirstLight announced an agreement to acquire Hydromega Services Inc., including ownership in five hydroelectric stations in Québec and five in Ontario, along with a development pipeline totaling over 2 GW of wind, solar, storage, and hydro projects. This acquisition expanded FirstLight's Canadian operations and project pipeline to approximately 4 GW across North America.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
FirstLight Power competitors and assessment
Company assessmentBroad incumbents
- Brookfield Renewable Partners: One of the world's largest publicly traded renewable energy platforms, operating hydro, wind, solar, and storage assets across North America, South America, Europe, and Asia. Directly comparable as a multi-technology renewable IPP with a large North American pumped storage and hydroelectric footprint and long-term contracted cash flows.
- Hydro-Québec: Canadian provincial utility and one of the largest hydroelectric power producers in the world, with a generation portfolio dominated by hydro and substantial pumped storage capability. Comparable as a large-scale Canadian hydroelectric operator with grid integration and storage assets.
- NextEra Energy Resources: The world's largest generator of wind and solar energy, and a major operator of energy storage in North America. Comparable as a broad clean energy IPP with merchant and contracted revenue streams, grid-scale storage expertise, and a sizable North American operating footprint.
- Enel Green Power: Global renewable energy subsidiary of Enel Group, operating hydroelectric, wind, solar, and geothermal assets across the Americas, Europe, Africa, and Asia. Comparable as a multi-technology renewable IPP with large-scale hydroelectric generation and energy storage.
- Vattenfall: European state-owned utility with a large hydropower and pumped hydro storage portfolio in Sweden and other Nordic countries, alongside wind and heat operations. Comparable as a hydro-led utility with substantial pumped storage assets providing grid flexibility.
Regional players
- TransAlta Corporation: Canadian power generator and marketer with a fleet of hydroelectric, wind, solar, and natural gas assets, including pumped storage capability, primarily in Canada, the US, and Australia. Comparable as a North American hydro and storage operator with both renewable and conventional generation.
Direct peers
- Eagle Creek Renewable Energy: US-focused owner and operator of small-to-medium hydroelectric generation facilities with a portfolio of over 80 run-of-river and reservoir hydro plants. Comparable to FirstLight's 14-station US hydro portfolio as a hydro-only IPP focused on the northeastern United States.
- Boralex: Canadian-headquartered renewable energy IPP operating wind, solar, hydroelectric, and storage assets primarily in Canada, the US, and France. Directly comparable to FirstLight as a North American multi-technology renewable developer with a similar mix of run-of-river and reservoir hydro alongside wind and solar.
- Innergex Renewable Energy: Canadian independent renewable power producer operating hydroelectric, wind, solar, and storage facilities across Canada, the US, France, and Chile. Closely comparable to FirstLight in size, technology mix, and reliance on long-term PPAs with hydro as a core technology.
Others
- Dominion Energy Virginia: US regulated utility that operates the Bath County Pumped Storage Station, the largest pumped storage facility in the world. Comparable in operating one of the most significant pumped storage assets in North America, providing grid-scale ancillary services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
FirstLight Power social profiles
Digital presenceFirstLight Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
FirstLight Power leadership team
Management profileNumber of profiles
Profiles1 record
FirstLight Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
FirstLight Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FirstLight Power M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FirstLight Power
What does FirstLight Power do?
FirstLight Power generates and sells wholesale clean electricity from a diversified portfolio of assets including the 1,168-MW Northfield Mountain pumped hydro energy storage facility, 14 hydroelectric stations, and three operational solar and battery storage facilities in the US, complemented by Canadian wind, solar, hydro, and storage assets under the H2O Power and Hydromega platforms. The company delivers power to utilities, municipal public power entities, and provincial grid operators primarily through long-term power purchase agreements, and provides grid stability and energy storage services through its pumped hydro assets.
Is FirstLight Power a public or private company?
FirstLight Power is a private company. It is classified as state government owned and is currently operating.
When was FirstLight Power founded?
FirstLight Power was founded in 2016. It employs 101 to 250 people.
Where is FirstLight Power based?
FirstLight Power is headquartered in Burlington, United States, in the North America region.
How does FirstLight Power make money?
Two revenue lines are on record. Wholesale Electricity Generation and Sales are the primary driver. The others are power Purchase Agreements.
Who are FirstLight Power's main competitors?
Broad incumbents on record are Brookfield Renewable Partners, Hydro-Québec, NextEra Energy Resources, Enel Green Power and Vattenfall. TransAlta Corporation is listed as a regional player. Direct peers are Eagle Creek Renewable Energy, Boralex and Innergex Renewable Energy. Dominion Energy Virginia is listed as an others.
Does FirstLight Power have an API?
No public API is recorded for FirstLight Power.
What industry is FirstLight Power in?
FirstLight Power's product category is Renewable Power Generation. Its primary akta.pro industry code is EUACAEAC, Pumped-Storage Hydroelectric Generation, with a secondary code of EUACAEAB, Reservoir/Impoundment Hydroelectric Generation. Its NAICS code is 221111 and its SIC code is 4911.