Utility in PA Withdraws Plans to Expand HydroprojectSubmitted by Rupak Thapaliya on Wed, 2008-12-10 13:03
The $440 million price tag to expand the Holtwood hydropower project has forced PPL to withdraw its application filed last year to increase capacity at the existing project.
PPL Corporation had plans to increase the capacity of the existing project by 125 MW.PPL currently has a FERC license that expires in 2014.
The amendment would also have extended the license term for until 2030, in the absence of which PPL will now have to start relicensing process next year.
A press release issued yesterday quotes the CEO of PPL as saying," As we evaluated this project in light of current economic conditions and projections of future energy prices, we reached the conclusion that it is no longer economically justifiable."