The developer of the hydropower project at three major locks and dams on the Ohio and Allegheny rivers is asking the Federal Energy Regulatory Commission for permission to sell its licenses to a Massachusetts company.
Subsidiaries of Rye Development, a Florida-based developer of hydropower facilities across the United States, are planning to sell the licenses for three unconstructed hydroelectric projects at the Montgomery Locks and Dam in Industry, Beaver County; the Emsworth Locks and Dam near Neville Island; and the Allegheny Lock and Dam 2 near the Highland Park Bridge in Pittsburgh. The proposed acquirer of the three licenses would be Snowmass Energy 2050 LLC, which is affiliated with hydropower turbine owner Mavel Americas Inc.
Financial terms of the agreement haven’t been disclosed and aren’t mentioned in the filings by the Federal Energy Regulatory Commission. Rye and Snowmass Energy didn’t immediately respond to requests for comment. Neither Rye nor Snowmass are seeking changes to the project or environmental permits.
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