All output from the facilities is contracted through June 2014 to the Tennessee Valley Authority. The portfolio benefits from one of the lowest operating costs in the region and was granted a 40-year operating licence by the Federal Energy Regulatory Commission in 2005.
JP Morgan advised Alcoa on the transaction which was valued at approximately US$600M. Tapoco was originally developed by Alcoa to provide power for its aluminium smelting and rolling mill operations. The four dams – Calderwood, Santeetlah, Chilhowee and Cheoah – came into service between 1919 and 1957.
