The town of Rockingham in the US has announced that it has signed an agreement with two Canadian energy companies and Vermont Hydroelectric Authority to purchase the Bellows hydro plant from USGen New England Inc.

Under terms of the agreement, the three-member entity would come up with the US$72M needed to seal the deal, and the town would own the plant and lease it to them.

The group would sell the power and lease the dam for up to 74 years, while also making payments in lieu of taxes to Rockingham.