The equity interest, to be acquired by the end of the year, will be held by Kentucky Hydro Holdings, a new company set up by NEG. The two merchant hydro projects – Smithland Locks and dam at Smithland and Cannelton Locks and dam at Hawesville – are being developed at existing dams.
Each power site will have a generating capacity of 80 MW, with Smithland expected to come on line first in the spring of 2004.
