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FERC approves Duke Energy's transfer of operating licenses for 4 hydro plants

The Federal Energy Regulatory Commission approved the transfer of operating licenses for four hydroelectric facilities from Duke Energy Carolinas LLC to a privately held independent power producer.

The transfer involved the Gaston Shoals, Bryson, Franklin and Mission facilities, which are part of the Duke Energy Corp. subsidiary's planned sale of five hydro plants with a combined capacity of 18.7 MW.

Under the deal, Duke Energy Carolinas will sell the facilities for $4.75 million to Northbrook Carolina Hydro II LLC and Northbrook Tuxedo LLC, below their current net book value of $42 million. The utility agreed to buy all energy and renewable energy credits generated by the facilities for five years as part of the deal.

Northbrook Carolina Hydro II and Northbrook Tuxedo are owned by a partnership between Alliance Fund II LP and privately held independent power producer Northbrook Energy LLC.