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.
- 451-MW Seneca Pumped-Storage, licensed as the Kinzua project for Kinzua Dam, which impounds its lower reservoir on the Allegheny River in Pennsylvania;
- 9.5-MW Allegheny Lock & Dam 5 on the Allegheny River in Pennsylvania;
- 8.5-MW Allegheny Lock & Dam 6 on the Allegheny River in Pennsylvania;
- 51.2-MW Lake Lynn on the Cheat River in West Virginia;
- 2.84-MW Millville on the Shenandoah River in West Virginia;
- 1.9-MW Dam No. 4 on the Potomac River in West Virginia;
- 1.2-MW Dam No. 5 on the Potomac River in West Virginia;
- 750-kW Warren on the Shenandoah River in Virginia;
- 3-MW Luray and Newport comprising the 1.6-MW Luray development and the 1.4-MW Newport development on the South Fork Shenandoah River in Virginia; and
- 860-kW Shenandoah on the South Fork Shenandoah River in Virginia.
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.