Central Vermont Public Service announced it will purchase the assets and service territory of the Vermont Marble Power Division of Omya Inc., including several small hydropower projects.
Included in the $33.2 million sale are rights to serve about 890 customers in Proctor, including the Omya industrial facility in Florence, which will become CV's single-largest customer. The sale also includes four hydroelectric facilities with a combined capacity of 18.1 megawatts.
Today, CVPS serves more than 159,000 customers in 163 communities.
"This purchase will create economies of scale that will benefit all of our customers, and will lead to expansion of the generation output from the four Vermont Marble dams through increased investment," CVPS President Bob Young said. "It maintains Vermont control over the plants, which produce clean, reliable energy, and expands CV's role as the operator of the largest fleet of renewable hydroelectric generators in the state."
The sale, expected to close by the end of the year, is subject to the approval of the state Public Service Board and the Federal Energy Regulatory Commission.
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