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  • Hydro Holdings LLC completes acquisition of 11 hydropower projects

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    FirstEnergy Corp. has completed the sale of 11 hydropower projects to Harbor Hydro Holdings LLC, the Ohio-based power distributor said.

    The portfolio has a total output capacity of 527 MW but represents less than 3% of FirstEnergy's cumulative output, according to a company release.

    The sale is reported to have been worth approximately US$395 million.

    Projects included in the deal were owned by FirstEnergy Generation LLC, Allegheny Energy Supply Co. LLC and Green Valley Hydro LLC.

    HydroWorld.com reported FirstEnergy had applied for a Federal Energy Regulatory Commission license transfer in September 2013.

    Included are:

    Allegheny Generating Company continues to own 1,200 MW of the 3,000-MW Bath County pumped-storage hydropower project, while Jersey Central Power & Light continues to own half of the 400-MW Yards Creek pumped-storage project. Both companies are FirstEnergy subsidiaries.

    Harbor Hydro Holdings LLC is a subsidiary of LS Power Equity Partners II, LP.

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