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Alcoa finalises Tapoco power plant sale
November 19, 2012 - 12:38 GMT
Alcoa has finalised the sale of its 378-megawatt Tapoco hydroelectric power plant to Brookfield Renewable Energy Partners for about $600 million.
The deal was announced in June.
"Tapoco is a four-station hydroelectric project located on the
Little Tennessee and Cheoah Rivers in eastern Tennessee and
western North Carolina," Alcoa said.
"The transaction included the four generating stations and
dams, 86 miles of transmission line, and about 14,500 acres of
land associated with and surrounding Tapoco."
The plant was originally constructed by Alcoa to feed its
smelting and rolling mill operations in Alcoa, Tennessee, but
the company has been selling the surplus electricity since
curtailing the smelter in 2009.
JP Morgan advised Alcoa on the deal.
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