Eagle Creek Renewable Energy LLC’s 3-MW Mine Falls hydropower plant will be changing hands following a unanimous decision by the Nashua Board of Aldermen to purchase the facility for $4.2 million.
The small hydroelectric project could net the city up to nearly $4 million in net revenue, according to a consulting group hired to advise on the acquisition. However, repairs needed at the plant could cost more than $2 million, giving Nashua several options as to its future.
The Board of Aldermen has said the city might operate the facility internally to bolster its own power supply; sell the energy to a distributor; find an operator to run the plant; or sell the plant outright after making improvements.
Nashua officials said they will determine Mine Falls’ fate within the next year. The city’s purchase is expected to be completed by the end of this year.
Located in the heart of Nashua, the facility was previously obtained by Eagle Creek from Algonquin Power Co. in June 2013. The plant began commercial operation in 1985 and is currently operating under a Federal Energy Regulatory Commission (FERC) license that remains valid until July 2023.
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