PPL Corp. has sold six hydroelectric projects in Maine to Black Bear Hydro Partners LLC, an affiliate of ArcLight Capital Partners LLC, for $81 million.
The deal includes five plants with a combined capacity of 23 MW as well as a 50-percent share of the West Enfield plant that can generate up to 13 MW. ArcLight already owns a 50-percent stake in the West Enfield project. The transaction also includes the Milford, Orono, Stillwater, Ellsworth and Medway projects.
“These have been good assets for us in Maine but are not core to our concentrated generation positions in the PJM Interconnection and in the Northwest,” said PPL Chief Operating Officer William Spence.
