The company licensed to build and operate 92-MW Price Dam hydroelectric project is considering selling the project to Brookfield Power Corp.
Licensee Price Dam Partnership Ltd. disclosed the potential sale in a filing with the Federal Energy Regulatory Commission, which granted its request to extend the project’s construction schedule. The licensee said it sought the extension to allow the parties to fully explore the acquisition and to seek other financial alternatives.
FERC issued a license for the project (No. 12187) in 2005. At that time, it set July 28, 2007, as the date construction must begin. The commission issued an order June 11 granting a new deadline to start construction — July 28, 2009. The new date for finishing construction is July 28, 2012.
The project is located at the Corps of Engineers’ Melvin Price Locks and Dam on the Mississippi River, near Alton, Ill.
The license required the licensee to reach an agreement with the Corps to coordinate access and construction activities, while protecting federal operations and activities, primarily in support of Mississippi River navigation. The Corps has agreed to allow the licensee to proceed with project design. (HNN 3/23/07)