H2O Power
H2O Power is a Canadian hydroelectric generation company operating clean energy assets in Quebec and Ontario. Retained by PSP Investments alongside Hydromega, it sells electricity to provincial utilities and grid operators under long-term bilateral contracts.
- Company typePrivate
- Founded2014
- HeadquartersOshawa, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What H2O Power does
H2O Power is a Canadian hydroelectric generation company that produces clean electricity from hydroelectric facilities in Quebec and Ontario. Together with its sister brand Hydromega, H2O Power constitutes the Canadian platform retained by PSP Investments following the announced divestiture of FirstLight Power's U.S. portfolio to Hull Street Energy. Core products include conventional hydroelectric generation, pumped hydro energy storage (exemplified by the Northfield Mountain facility at the U.S. level), and hybrid energy solutions that combine generation, storage, and renewable resources to support grid stability. The company operates licensed water rights across multiple sites and manages more than 14,000 acres of land and hundreds of miles of shoreline as part of its environmental stewardship mandate.
H2O Power's business model is B2B electricity generation sold to electric utilities and grid operators under direct bilateral contracts, long-term power purchase agreements, and merchant arrangements in Quebec and Ontario. Customer segments are narrowly defined: provincial utilities and system operators are the primary off-takers, with Indigenous communities (notably Dokis First Nation on the Okikendawt Hydroelectric Project) serving as co-development partners rather than direct customers. Pricing is not publicly disclosed and is typically negotiated bilaterally based on capacity, generation output, and grid demand. The company markets primarily through the FirstLight corporate channels (website, newsroom, LinkedIn, X, Facebook) and pursues ESG positioning, as evidenced by its 2025 Clean Energy Company of the Year award from the Alliance for Climate Transition.
The company is privately held and owned by PSP Investments (Public Sector Pension Investment Board), which acquired FirstLight in 2016. Headcount is reported at 11-50 employees, consistent with an asset-management and operations overlay on infrastructure assets rather than a full-scale utility operator. Justin Trudell serves as President and CEO of the parent FirstLight Power. No AI/ML, software, or technology-platform capabilities are disclosed, and revenue is not publicly reported.
H2O Power firmographics
Firmographics- Name
- H2O Power
- Legal name
- FirstLight Power Resources Inc.
- Website
- https://h2opower.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- H2O Power is a Canadian hydroelectric generation company operating clean energy assets in Quebec and Ontario. Retained by PSP Investments alongside Hydromega, it sells electricity to provincial utilities and grid operators under long-term bilateral contracts.
- Ownership category
- akta.pro rank
H2O Power industry classification
Industry- Product category
- Hydroelectric Power Generation
- NAICS
- Hydroelectric Power Generation (221111), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Hydropower Operations, Maintenance & Refurbishment (R&M/Life Extension) (EUACAEAG)
Keywords
Where H2O Power is headquartered
LocationHeadquarters
- HQ city
- Oshawa
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
H2O Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Others
Revenue model
- Electricity Generation and Sales: H2O Power generates electricity through hydroelectric facilities and sells power to grid operators and utilities in Quebec and Ontario markets.
Distribution channels1 record
Marketing channels3 records
H2O Power product offering
Product offeringCore offering
H2O Power is a Canadian hydroelectric generation company that operates clean energy facilities and renewable assets across Quebec and Ontario. The company generates electricity through hydroelectric power stations and provides large-scale pumped hydro energy storage to support grid stability and renewable integration. It sells power to electric utilities and grid operators under bilateral contracts and merchant arrangements.
Product overview
H2O Power is a Canadian clean energy brand operating within FirstLight Power's portfolio. Together with sister brand Hydromega, H2O Power forms the Canadian platform retained by PSP Investments after the sale of FirstLight's U.S. operations. The company operates hydroelectric generation facilities and renewable energy assets across Quebec and Ontario. FirstLight's broader offering includes pumped hydro energy storage (Northfield Mountain facility), hybrid energy solutions, and the Okikendawt Hydroelectric Project in partnership with the Dokis First Nation. The company also provides recreation and stewardship services across its land holdings.
Differentiator
Problem solved
Functional benefit
Products and services
- Hydroelectric Generation Clean electricity generation through hydroelectric power facilities across Quebec and Ontario, supplying wholesale power to electric utilities and grid operators.
- Pumped Hydro Energy Storage Large-scale pumped hydro energy storage exemplified by the Northfield Mountain facility, providing on-demand dispatch and grid-scale storage to support renewable energy integration and grid reliability.
- Recreation and Stewardship Services Community recreation and environmental stewardship offerings including hiking, biking, skiing, and camping across company-managed lands and waterways in Quebec and Ontario.
Quantifiable outcome
- 1.4 GW of installed capacity in North American portfolio (includes U.S. operations)
- +1 more outcomes
Companies that use H2O Power
Customer profileSegments2 records
Ideal customer profiles1 record
H2O Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
H2O Power partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Dokis First NationcorePartnership with Dokis First Nation on the Okikendawt Hydroelectric Project celebrating 10 years of operation. The project represents a model for Indigenous community benefit from hydroelectric development.
Scale indicators2 records
Recent moves5 records
Expansion highlights4 records
H2O Power competitors and assessment
Company assessmentDirect peers
- Hydro-Québec: Province of Quebec's vertically integrated hydroelectric utility and one of the largest hydro operators in North America. Directly comparable as a Quebec-based hydroelectric generator supplying power to grid operators and utilities.
- Innergex Renewable Energy: Canadian independent renewable power producer with a meaningful run-of-river hydroelectric portfolio in Quebec, Ontario, and British Columbia. Comparable in scale and product mix to H2O Power's hydro-focused platform.
- Northland Power: Canadian independent power producer with hydroelectric, wind, solar, and natural gas assets, including facilities in Ontario and Quebec. Directly comparable in geography and product mix.
- Boralex: Quebec-headquartered renewable energy operator with hydroelectric, wind, solar, and storage assets across Canada, the U.S., and Europe. Overlaps directly with H2O Power on Canadian hydroelectric generation.
- Brookfield Renewable Partners: Publicly listed owner and operator of one of the world's largest renewable portfolios with substantial hydroelectric assets in Canada. Comparable business model of long-life hydro generation supplying utilities and corporates.
- TransAlta: Canadian power generator with hydroelectric, wind, and natural gas assets across Canada and the U.S. Comparable as a long-life Canadian power producer selling to wholesale and utility customers.
- Ontario Power Generation: Ontario's largest electricity generator with a significant hydroelectric fleet. Closely comparable to H2O Power's Ontario-focused hydro operations and customer base of utilities and grid operators.
- Capital Power: Canadian independent power producer with diversified generation across Canada and the U.S. Comparable as a Canadian-domiciled generator operating in similar wholesale power markets.
Broad incumbents
- EDF Renewables North America: North American renewable energy subsidiary of EDF with utility-scale wind, solar, and storage projects. Comparable as a broader incumbent in the renewable generation space, though not hydro-focused in Canada.
- NextEra Energy Resources: Largest North American renewable energy operator with wind, solar, and storage assets. Comparable as a broad incumbent in clean power generation supplying utilities and corporate offtakers, though larger and geographically diversified.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
H2O Power social profiles
Digital presenceH2O Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
H2O Power leadership team
Management profileNumber of profiles
Profiles1 record
H2O Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
H2O Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
H2O Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about H2O Power
What does H2O Power do?
H2O Power is a Canadian hydroelectric generation company that operates clean energy facilities and renewable assets across Quebec and Ontario. The company generates electricity through hydroelectric power stations and provides large-scale pumped hydro energy storage to support grid stability and renewable integration. It sells power to electric utilities and grid operators under bilateral contracts and merchant arrangements.
Is H2O Power a public or private company?
H2O Power is a private company. It is classified as private equity controlled and is currently operating.
When was H2O Power founded?
H2O Power was founded in 2014. It employs 11 to 50 people.
Where is H2O Power based?
H2O Power is headquartered in Oshawa, Canada, in the North America region.
How does H2O Power make money?
One revenue line is on record: electricity Generation and Sales.
Who are H2O Power's main competitors?
Direct peers on record are Hydro-Québec, Innergex Renewable Energy, Northland Power, Boralex, Brookfield Renewable Partners, TransAlta, Ontario Power Generation and Capital Power. Broad incumbents are EDF Renewables North America and NextEra Energy Resources.
Does H2O Power have an API?
No public API is recorded for H2O Power.
What industry is H2O Power in?
H2O Power's product category is Hydroelectric Power Generation. Its primary akta.pro industry code is EUACAEAG, Hydropower Operations, Maintenance & Refurbishment (R&M/Life Extension). Its NAICS code is 221111 and its SIC code is 4911.