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Eagle Creek Renewable Energy

Operates and expands small-scale hydroelectric facilities

Overview

Eagle Creek Renewable Energy acquires, rehabilitates, and operates small-scale hydroelectric facilities in the United States to sell clean electricity into North American power pools. It owns and operates 85 hydro facilities with 690 MW of capacity across states such as California, Maine, New York, and Illinois, plus other hydro assets and a solar facility in New England. The company grows by acquiring underperforming assets, upgrading them to boost output and reliability, and selling power in wholesale markets. As a wholly owned subsidiary of Ontario Power Generation, its goal is to expand clean power generation, diversify its asset base, and provide dependable electricity across North America while prioritizing dam safety and environmental stewardship.

Significant Headcount Growth

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About Eagle Creek Renewable Energy

Simplify's Rating
Why Eagle Creek Renewable Energy is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & ManufacturingEnergy

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$100M

Headquarters

Morristown, NJ

Founded

2010

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What believers are saying

  • October 2026 Relevate partnership expands managed assets without heavy capital deployment.
  • Apollo's January 2026 ownership gives Eagle Creek stronger financing and acquisition capacity.
  • October 2026 dam-safety inspections at York Haven signal active maintenance discipline.

What critics are saying

  • Michigan settled Morrow Dam claims for $25 million in April 2026 after sediment damage.
  • The 2019 Morrow drawdown exposed weak dam governance and invited federal scrutiny.
  • Hydropower asset failures can trigger existential FERC restrictions, cleanup liabilities, and reputational damage.

What makes Eagle Creek Renewable Energy unique

  • Apollo-backed, 85-plant hydro platform spans 18 states and 691 megawatts.
  • Eagle Creek combines acquisition, rehabilitation, and operations, not pure greenfield development.
  • Lightstar adds community solar and 1.3 gigawatts of pipeline diversification.

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Funding

Total Funding

$100M

Above

Industry Average

Funded Over

1 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison Coming Soon

Benefits

  • Remote Work Options
  • Hybrid Work Options

Growth & Insights and Company News

6 month growth

0%

1 year growth

13%

2 year growth

13%
PR Newswire
Oct 1st, 2026
GDEV management-backed Relevate Power and Eagle Creek form strategic partnership to expand companies' hydropower footprints.

GDEV management-backed Relevate Power and Eagle Creek form strategic partnership to expand companies' hydropower footprints. Oct 01, 2026, 07:00 ET The partnership brings together Relevate's redevelopment expertise and Eagle Creek's operating scale and expertise, advancing hydropower as a source of baseload generation across North America NEW YORK, Oct. 1, 2026 /PRNewswire/ - GDEV Management (GDEV)-backed Relevate Power (Relevate) and Eagle Creek Renewable Energy (Eagle Creek), a hydropower owner and operator backed by Apollo (NYSE: APO) funds, today announced a strategic partnership across their portfolios of small hydropower assets. At the partnership's commencement, Eagle Creek will leverage its scale and highly experienced operations team to manage Relevate's portfolio of run-of-river hydroelectric projects. Relevate and Eagle Creek have identified opportunities to combine their respective strengths in redeveloping and operating hydropower facilities to achieve operational and cost efficiencies, starting with asset management as the foundation for a broader relationship. The local operators currently employed by Relevate to manage its portfolio will join Eagle Creek, maintaining continuity of operations at each facility while benefiting from the scale of a larger operating platform. Previously, GDEV and Apollo provided financing for Relevate's acquisition of Gravity Renewables in December 2024. "The hydropower market is in a period of significant growth as electricity demand surges beyond current generation levels," said Neal Simmons, CEO at Eagle Creek. "We will bring our operating expertise to oversee Relevate's hydropower projects, enabling us to provide clean, reliable energy to surrounding homes and businesses." Since GDEV's initial investment in 2024, Relevate also received a $4.9 million grant from the Department of Energy (DOE) to boost efforts in improving the efficiency of hydroelectric facilities and has gained significant commercial traction across the hydropower market. "Together with Eagle Creek, we're helping strengthen Relevate's business model of providing operational improvements to underperforming hydro facilities," said Benjamin Baker, Managing Partner of GDEV Management. "This partnership will allow Relevate to expand its platform on a larger scale while significantly reducing overhead - promising long-term value for our investors and partners." ABOUT GDEV MANAGEMENT GDEV Management, LLC is a middle-market infrastructure private equity business that invests in high-growth sustainable infrastructure companies across sectors including renewable energy, energy efficiency, grid infrastructure, transport and sustainable fuels. The firm targets operationally complex businesses in infrastructure, clean energy, industrials, and technology-enabled services, partnering with management teams to drive growth, operational improvement, and long-term value creation. GDEV's institutional platform is structured to support a broad range of private market strategies, including direct investments, co-investments, and structured credit solutions. ABOUT RELEVATE POWER Founded in 2022 from the merger of Independent Power Producers Dichotomy Power and ClearEnergy, along with the power marketing firm Standard Power, Relevate Power is committed to redeveloping underutilized hydropower plants, providing affordable, clean energy to rural America's most impactful organizations. The company is backed by GDEV Management's Fund I, LP. and Aegon Asset Management Real Assets. ABOUT EAGLE CREEK RENEWABLE ENERGY Eagle Creek owns and operates 85 hydroelectric facilities across 18 states, providing renewable power to support rapidly growing energy demand. Hydropower is differentiated as a low carbon reliable energy source with baseload capabilities. The Company's nearly 700 MW portfolio makes it one of the largest and most diversified independent hydro platforms in the country, and its facilities produce enough electricity to power over 260,000 homes. SOURCE GDEV Management

Renewables Now Ltd
Oct 7th, 2025
Apollo Acquires Eagle Creek for 700 MW

Apollo, a US private equity firm, has agreed to acquire Eagle Creek Renewable Energy, an independent hydroelectric facility owner and operator based in Bethesda, Maryland, with a portfolio of nearly 700 MW.

Business News Today
Oct 6th, 2025
Apollo deepens renewable power portfolio with acquisition of Eagle Creek Renewable Energy

Find out how Apollo's acquisition of Eagle Creek Renewable Energy signals a long-term bet on hydro power as America's clean-energy backbone.

Solar Industry
Mar 20th, 2024
Eagle Creek Renewable Energy Acquires Lightstar Renewables

Eagle Creek Renewable Energy acquires Lightstar Renewables.

GlobeNewswire
Mar 19th, 2024
Eagle Creek Renewable Energy acquires Lightstar Renewables

Bethesda, MD, March 19, 2024 (GLOBE NEWSWIRE) -- An affiliate of Eagle Creek Renewable Energy (“Eagle Creek”) has acquired Lightstar Renewables, a...

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