Alliance Energy Renewables buys three New York hydro projects

Alliance Energy Renewables LLC announced May 23 it acquired Mirant NY-Gen LLC, including its three hydroelectric projects, for $5.1 million.

The acquisition followed Mirant’s reorganization under bankruptcy protection. Plants include the 11.75-MW Swinging Bridge (No. 10482), 4-MW Mongaup (No. 10481), and 10-MW Rio (No. 9690) hydro projects and natural gas-fired plants totaling 95 MW.

The announcement made no mention of restoring hydropower generation at Swinging Bridge, where discovery of a sinkhole in the crest of a dam in May 2005 led to an emergency shutdown of the project and a 45-foot drawdown of its reservoir. (HNN 5/31/06) Mirant proposed repairing the dam, filling the project’s penstocks with concrete, and refilling the reservoir for hundreds of lakefront homes and for recreational users.

�We are very excited about this acquisition and operation of these facilities, as well as restoration of water levels in the Swinging Bridge Reservoir,� Alliance Renewables Chairman Sam Nappi said. �Our work is just beginning as we work diligently to expedite the restoration process initiated by the former owner. The original work schedule, which called for a September 2007 completion, has been accelerated by Alliance for some time in July.�

Alliance Energy Renewables LLC, a subsidiary of Alliance Energy Inc., acquired Mirant N.Y.-Gen LLC and all its properties from Mirant New York Inc. As the licenses for the hydropower facilities will remain with Mirant N.Y.-Gen, applications to transfer licenses to operate the projects are not required. Mirant NY-Gen plans to change its name to AER NY-Gen LLC.

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