Hydro Power

FirstEnergy has completed the sale of 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to Harbor Hydro Holdings, an indirect, wholly-owned subsidiary of LS Power Equity Partners II, for a cash consideration of around $395m.

Having reached a sales agreement with LS Power affiliates on 23 August 2013 and received approval from the US Federal Energy Regulatory Commission in November 2013, FirstEnergy subsidiaries have completed the sale of the plants.

FirstEnergy subsidiaries include Allegheny Energy Supply Company, FirstEnergy Generation and Green Valley Hydro that own the power stations totalling 527MW, which represents less than 3% of FirstEnergy’s generation fleet output.

The stations include 451MW Seneca Pumped Storage in Warren; 6MW Allegheny Lock and Dam 5 in Schenley; 7MW Allegheny Lock and Dam 6 in Ford City; and 52MW Lake Lynn, all located in the state of Pennsylvania.

"FirstEnergy subsidiaries have completed the sale of the plants."

The 3MW Millville plant; 2MW Dam 4 in Shepherdstown and 1.2MW Dam 5 in Falling Waters are located in West Virginia, while the Virginia plants include 750kW Warren in Front Royal; 1.6MW Luray; 860kW Shenandoah and 1.4MW Newport in Shenandoah.

All the plants are bought by Seneca Generation, Lake Lynn Generation, All Dams Generation and PE Hydro Generation, wholly-owned subsidiaries of Harbor Hydro Holdings. The new owner will retain 35 current employees at these power stations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The transaction is part of FirstEnergy’s May 2013 plan to sell up to 1,240MW of unregulated non-core hydroelectric assets.


Image: FirstEnergy subsidiaries sold hydro power stations totalling 527MW. Photo: courtesy of Freedigitalphotos.

Energy