WARREN, Pa. (AP) - FirstEnergy Corp. has sold the Kinzua Dam system in northwestern Pennsylvania along with 10 other hydroelectric power stations to a subsidiary of a New York-based power company.
Akron, Ohio-based FirstEnergy sold the plants for $395 million to Harbor Hydro Holdings, LLC. Harbor Hydro is a subsidiary of LS Power Equity Partners II of New York City.
The companies said in a joint release that employees of the Kinzua system will be retained by the new owner.
Please read our comment policy before commenting.