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  • Alaska electric association buys 22.5-MW Terror Lake

    Kodiak Electric Association announced it purchased the 22.51-MW Terror Lake hydroelectric project near Kodiak for $38 million from the Southeast Alaska Power Agency.

    The U.S. Department of Agriculture's Rural Utility Service provided a $38 million loan to KEA for the project.

    Terror Lake (No. 2743) was one of four hydro projects once owned by Four Dam Pool Power Agency, now Southeast Alaska Power Agency. The purchase was completed Feb. 24, after the Federal Energy Regulatory Commission issued an order transferring the project's operating license to KEA.

    FERC also issued an order transferring the license for another of the projects, 18-MW Solomon Gulch (No. 2742), to the Copper Valley Electric Association Inc.

    Southeast Alaska Power Agency keeps two projects

    Southeast Alaska Power Agency retains ownership of the other two plants once owned by Four Dam Pool Power Agency: 22-MW Swan Lake (No. 2911) and 20-MW Lake Tyee (No. 3015). FERC issued orders earlier this year amending the licenses of the two projects to formally change the name of the licensee to Southeast Alaska Power Agency.

    Southeast Alaska Power Agency members include Ketchikan Public Utilities, Petersburg Municipal Power &Light, and Wrangell Municipal Power &Light. KEA and Copper Valley Electric Association, members of Four Dam Pool Power Agency, are not members of the newly named power agency.

    At one time, the Alaska Energy Authority owned all four projects. In 2002 it sold the projects to Four Dam Pool Power Agency, which paid $73 million. The projects were built in the 1980s when the state invested in hydropower plants and interties to provide inexpensive, reliable power to south-central and coastal Alaska.

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