FirstEnergy Corp subsidiaries have applied for authorization from the Federal Energy Regulatory Commission (FERC) to sell 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to Harbor Hydro Holdings, LLC, a subsidiary of LS Power Equity Partners II, LP.
FirstEnergy Corp subsidiaries have applied for authorization from the Federal Energy Regulatory Commission (FERC) to sell 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to Harbor Hydro Holdings, LLC, a subsidiary of LS Power Equity Partners II, LP.
The hydroelectric power stations included in this proposed sale are owned by FirstEnergy Generation, LLC, Allegheny Energy Supply Company, LLC and Green Valley Hydro, LLC and have a total capacity of 527MW, which represents less than 3% of FirstEnergy’s generation fleet output. The sale includes: Seneca Pumped Storage (451MW) in Warren, Pa.; Allegheny Lock & Dam 5 (6MW) in Schenley, Pa.; Allegheny Lock & Dam 6 (7MW) in Ford City, Pa.; Lake Lynn (52MW) in Lake Lynn, Pa.; Millville (3MW) in Millville, W. Va.; Dam 4 (2MW) in Shepherdstown, W. Va.; Dam 5 (1.2MW) in Falling Waters, W.Va.; Warren (750kW) in Front Royal, Va.; Luray (1.6MW) in Luray, Va.; and Shenandoah and Newport (860kW and 1.4MW, respectively) in Shenandoah, Va.
The 35 current employees at these power stations are expected to be retained by the new owner. FirstEnergy subsidiary Allegheny Generating Company will continue to own 1200MW of the 3000MW Bath County Pumped-Storage Hydro facility in Warm Springs, Va. In addition, FirstEnergy subsidiary Jersey Central Power & Light (JCP&L) will continue to own 200MW of the 400MW Yards Creek Pumped-Storage Hydro facility in Blairstown, N.J.
A sales agreement for the plants was reached on August 23, and if approved, the proposed transaction is expected to close in the fourth quarter of 2013. The agreement is subject to customary and other closing conditions, including FERC, the Commonwealth of Virginia’s State Corporation Commission and various other approvals.
Image: Seneca Pumped Storage project