Global Leader in International Renewable Industry News

posted in:

FirstEnergy completes sale of eleven hydroelectric power stations to Harbor Hydro Holdings, LLC

Friday, Feb 14, 2014

AKRON, Ohio, Feb. 12, 2014 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has completed the sale of 11 hydroelectric power stations to Harbor Hydro Holdings, LLC, a subsidiary of LS Power Equity Partners II, LP, for approximately $395 million.  The two companies originally announced the sales agreement in September 2013.

The hydroelectric power stations included in this sale are owned by FirstEnergy Generation, LLC, Allegheny Energy Supply Company, LLC and Green Valley Hydro, LLC and have a total capacity of 527 megawatts, which represents less than 3 percent of FirstEnergy's generation fleet output. The sale includes:  Seneca Pumped Storage (451 MW) in Warren, Pa.; Allegheny Lock & Dam 5 (6 MW) in Schenley, Pa.; Allegheny Lock & Dam 6 (7 MW) in Ford City, Pa.; Lake Lynn (52 MW) in Lake Lynn, Pa.; Millville (3 MW) in Millville, W. Va.; Dam 4 (2 MW) in Shepherdstown, W. Va.; Dam 5 (1.2 MW) in Falling Waters, W.Va.; Warren (750 kW) in Front Royal, Va.; Luray (1.6 MW) in Luray, Va.; and Shenandoah and Newport (860 kW and 1.4 MW, respectively) in Shenandoah, Va.  The 35 current employees at these power stations are being retained by the new owner.

FirstEnergy subsidiary Allegheny Generating Company continues to own 1,200 MW of the 3,000 MW Bath County Pumped-Storage Hydro facility in Warm Springs, Va. In addition, FirstEnergy subsidiary Jersey Central Power & Light (JCP&L) continues to own 200 MW of the 400 MW Yards Creek Pumped-Storage Hydro facility in Blairstown, N.J.

FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence.  Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.  Its generation subsidiaries currently control more than 17,500 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro, pumped-storage hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp.

LS Power, an employee-owned, independent power company with offices in New York, New Jersey, Missouri and California, is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.

Source: FirstEnergy Corp.

posted in:

Other Renewable News

Trina Solar announces grid connection for 23.8 MW PV projects in UK 18-04-2014
Hannon Armstrong ("HASI") and Sol Systems collaborate to deploy up to $100 million of debt financing for distributed solar project developers in 2014 18-04-2014
EasySolar announces the all-in-one solar power solution 17-04-2014
Three International wind power exhibitions to take place in Shanghai in July 2014 17-04-2014
Bharat Light & Power selects OSIsoft PI System to support renewable energy growth in India 17-04-2014
JinkoSolar successfully connects two solar PV projects totaling 39MW to the grid in Jiangsu Province 17-04-2014
Yingli Green Energy signs cooperation agreement with Sailing Capital to jointly form a one billion RMB renewable energy fund 17-04-2014
IBERDROLA INGENIERÍA in Russia to construct the 1,020 MW substation for the Votkinskaya hydropower station 17-04-2014
Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
Introducing Trinity, a portable wind turbine power station for charging USB devices 16-04-2014