K&S Advises Relevate Power on Strategic Acquisition of Gravity Renewables, Doubling Sustainable Baseload Power Capacity

King & Spalding advised Relevate Power (“Relevate”), a leader in the redevelopment of run-of-river hydropower assets, on its announced acquisition of Gravity Renewables, with financing provided by funds managed by Apollo (NYSE: APO). The acquisition adds 40MW 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’s footprint in the Northeastern U.S., 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. Read more on this industry leading hydropower transaction here.

The K&S team advising Relevate included Brandon Dalling, Jonathan Melmed, Craig Phillips, Jeffrey Patten, Kristyn Dunn, Daniel Tsarevsky, Zori Ferkin, Min Cho, CR Park, Alexandre Turqueto, Lauryn Robinson-Young and Kevin Hilton.