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Article: PPL Corp. announces sale of 6 dams
- Article from:
- Bangor Daily News Bangor, ME
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 Bangor Daily News Bangor, ME. Provided by ProQuest LLC. (Hide copyright information)
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AUGUSTA - 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 ...