US: FERC permits sale of hydro power plants

The US’s Federal Energy Regulatory Commission has reportedly cleared the sale of 11 hydro power plants, owned by FirstEnergy Corp., to an independent developer.

The plants, which are situated in three states, will be sold to LS Power Group.

According to reports, however, FirstEnergy has also applied to transfer 10 licenses, but the FERC ruled that those transfers will need to be ruled upon in a separate order.

Financial details of the sale were not disclosed, but the FERC said the sale was in the public interest and did not raise significant competition concerns.

Full Content: Hydro World

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