FirstEnergy, a diversified energy company, has sold a 6.65% participation interest in the output of the Ohio Valley Electric Corporation (OVEC) to Peninsula Generation Cooperative, a subsidiary of Wolverine Power Supply Cooperative.
The sale involves about 150MW of capacity from OVEC’s generating facilities in southern Ohio and southern Indiana.
FirstEnergy has retained a participation interest of almost 4.9% in OVEC.
OVEC, which was formed by a group of utilities, owns and operates five 217MW coal-fired power units at Kyger Creek in Gallia County, Ohio, and six 217MW coal-fired power units at Clifty Creek near Madison, Indiana.
The plants were built by OVEC in the mid-1950s to serve the Atomic Energy Commission’s uranium-enrichment facilities in Portsmouth, Ohio.
After the decommissioning of the facilities, the OVEC-sponsoring companies started receiving the full output from the plants.
Headquartered in Cadillac, Michigan, Wolverine Power Supply Cooperative is a generation and transmission cooperative that provides wholesale electricity to six members in that state.