An energy investment group has been denied in its request to intervene in the relicensing of Yadkin Hydroelectric Project.
A report in the Stanly News & Press said New Energy Capital Partners stated in a filing with the Federal Energy Regulatory Commission (FERC) it believes “selling the electricity generated by the project would not be in the best interest of the public and goes against the original purpose of the project,” first licensed to ALCOA in 1958.
New Energy Capital Partners is a New Hampshire-based private equity firm that offers investment opportunities in operations including landfill gas, waste water and solar project. According to its website, the company “seek(s) to acquire controlling interests in development and operating assets and may from time to time sell individual projects or groups of assets to take advantage of strategic opportunities.”
Given its stated position against selling electricity generated by the Yadkin dams, it was not immediately clear how New Energy Capital would operate the facilities. The Federal Energy Regulatory Commission has not yet ruled on New Energy Capital’s motion to reopen the entire relicensing process, but the Commission did note that the denied motion to intervene came more than six years after the deadline for such a filing.