FirstEnergy Completes Sale of Eleven Hydroelectric Power Stations to Harbor Hydro Holdings
FirstEnergy completed the sale of 11 hydroelectric power stations to Harbor Hydro Holdings, a subsidiary of LS Power Equity Partners, for approximately $395 million. The two companies originally announced the sales agreement in September 2013. The hydroelectric power stations included in this sale are owned by FirstEnergy Generation, Allegheny Energy Supply and Green Valley Hydro and have a total capacity of 527 MW. The sale includes: Seneca Pumped Storage (451 MW); Allegheny Lock & Dam 5 (6 MW); Allegheny Lock & Dam 6 (7 MW); Lake Lynn (52 MW); Millville (3 MW); Dam 4 (2 MW); Dam 5 (1.2 MW); Warren (750 kW); Luray (1.6 MW); and Shenandoah and Newport (860 kW and 1.4 MW, respectively).