The Federal Energy Regulatory Commission (FERC) has approved FirstEnergy units' proposal to sell 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to LS Power Development.
FirstEnergy units Allegheny Energy Supply Co., FirstEnergy Generation and Green Valley Hydro own the hydroelectric power stations totaling 527 MW, which represents less than 3 percent of FirstEnergy's generation fleet output.
The Pennsylvania power plants in the transaction are 451 MW Seneca Pumped Storage in Warren; 6 MW Allegheny Lock and Dam 5 in Schenley; 7 MW Allegheny Lock and Dam 6 in Ford City; and 52 MW Lake Lynn.
The power plants for sale in West Virginia include 3 MW Millville; 2 MW Dam 4 in Shepherdstown and 1.2 MW Dam 5 in Falling Waters.
The Virginia plants are 750 kW Warren in Front Royal; 1.6 MW Luray; 860kW Shenandoah and 1.4 MW Newport in Shenandoah.
The purchasers, Seneca Generation, Lake Lynn Generation, All Dams Generation and PE Hydro Generation, are units of Harbor Hydro Holdings, an indirect, wholly-owned units of LS Power.
Having reached a sales agreement with LS Power affiliates on 23 August 2013, FirstEnergy sought FERC approval to sell the stations in September 2013 and expect to close the deal by the end of 2013.
New owner Harbor Hydro expects to retain 35 current employees at these power stations when the acquisition completes.
FirstEnergy's latest deal is part of its May 2013 plan to sell up to 1,240 MW of unregulated non-core hydroelectric assets.