November 3, 2009
PPL unloads Maine hydrodams
By The Mainebiz News Staff
PPL Corp. has completed the sale of five Maine dams for $81 million to Black Bear Hydro Partners LLC.
The Allentown, Pa.-based power company first announced it would sell the majority of its hydroelectric generating business in Maine in July, according to a press release from PPL. Black Bear Hydro, a subsidiary of Boston-based ArcLight Capital Partners LLC, now owns dams in Milford, Orono, Stillwater, Ellsworth and Medway, according to the Bangor Daily News. PPL also sold its 50% stake in a sixth dam in West Enfield, which is already 50% owned by another ArcLight affiliate.
Together, the six dams produce 36 megawatts of hydropower, according to the paper.
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