The five hydroelectric projects have a combined installed capacity of 35.2MW and the agreed upon price is approximately $2,000 per kilowatt of installed capacity.
The assets included in the proposed acquisition currently provide power to four central Wisconsin NewPage mills. However, the decision to sell these assets is expected to have little impact on these operations, as less than 10% of the mills’ combined required electricity demand is currently supplied by the CWPCo hydroelectric projects.
The proposed acquisition will enable GLU to generate low cost, renewable power and help meet the needs of its members’ renewable portfolio standards, the company said.
The acquisition proposal is subject to regulatory approvals.
