PPL Corp. announces sale of 6 dams

PPL Corp. announces sale of 6 dams


By Kevin Miller
BDN Staff

AUGUSTA, Maine — PPL Corp. announced Monday that it has completed an $81 million deal to sell six Maine dams to another firm.

Under the terms of the deal first announced in July, PPL will sell its stake in the dams the company now operates at Milford, Orono, Stillwater, Ellsworth, Medway and West Enfield.

The company purchasing the dams, Black Bear Hydro Partners LLC, is a subsidiary of Boston-based ArcLight Capital Partners, which has a stake in energy generation, transmission and infrastructure throughout the United States and Europe.

Black Bear Hydro Partners already owns a 50 percent stake in the West Enfield facility. Collectively, the six dams produce 36 megawatts of hydropower.

Officials have said in the past that the sale would not affect power production at the dams and that staff working at the facilities will remain on the job.

The deal involving the six dams also is not expected to affect the separate sale of three other PPL dams along the Penobscot River that is part of a historic river restoration agreement.

A coalition working together as the Penobscot River Restoration Trust is awaiting state and federal regulatory approval of plans to purchase the Veazie, Great Works and Howland dams from PPL.

The trust plans to remove the Veazie and Great Works dams and build a state-of-the-art fish bypass around the Howland dam, thereby reopening nearly 1,000 miles of watershed to Atlantic salmon, shad, alewives and other sea-run fish. As part of the deal, PPL was allowed to offset the loss of the three dams by increasing power generation at the facilities sold Monday.

“PPL believes strongly in this important project and remains fully committed to obtaining all approvals necessary to transfer these three facilities to the trust,” William Spence, PPL’s executive vice president and chief operating officer, said in a statement.

PPL said it is selling the six dams to Black Bear Hydro because the facilities are outside of the company’s core areas in the mid-Atlantic and the Northwest. Based in Allentown, Pa., PPL controls or owns more than 12,000 megawatts of generating capacity in the U.S.

ArcLight Capital Partners, the parent company of Black Bear Hydro, manages more than $6.8 billion in energy investments, according to the company’s Web site.

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Comments
7 comments on this item

Tear down clean energy to save about six wild salmon, sound good to you? I didn't think so.

atlantic salmon are now considered endangered......this will be the final nail in the coffin for all communities along the penobscot. good job Mike Michaud and the greenies that line your pockets. you pin head!!!!!!!!!!!!!!!!!!

Seems wind mills make too much noise and might kill a bird, can't have nuke plants, too dangerous, dams make it hard on fish, wood smoke bad, bad, bad, oil money goes to people who hate use, natural gas, can't build any plants, too dangerous, elec. big bucks, coal, oh my no, when humans get added to the endangered lsit maybe someone or something will take care of us.

Why must we save the salmon? Just so some fancy dan can have fresh water salmon.

We need clean energy more then we need salmon.

90% of the energy production of these dams will be conserved by increasing production at other dams. The salmon sport fishery is an important income producing fishery for Maine...Think about the jobs...

What jobs? The ones that tourism creates that provide seasonal jobs with no benefits? Yeah those are great jobs. I suppose it's keeping someone in Wisconsin in a job who shipped the fishing rod, the guy in Tennessee or wherever that made the car/truck for the person to drive to the river to fish the salmon, oh and don't forget the bait guy. I'll take a dam, windmill, LNG terminal or nuke plant any day of the week over salmon fishing... Give me a break.

Agree LawDisOrder and also italia.

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