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.