03 JUNE 2013Newsobserver.com
Alcoa mulls Yadkin hydro assets sale
Edited by : AL CIRCLE
1 min read
As Alcoa inches toward renewal of its embattled Yadkin River hydro license, the aluminum giant acknowledges the 38-mile project could be sold.
Control of the Yadkin’s economic value has pitted Stanly County, site of a now-closed smelting operation, against Alcoa for more than six years. Alcoa now sells electricity that once powered the smelter.
The two finally settled their dispute early this month. The county agreed to support the hydro license in exchange for access to 30 million gallons of water a day and $3 million.
But Alcoa’s chief sustainability officer, Kevin Anton, wouldn’t rule out Wednesday that the hydro project could be sold once the license is in hand.
“I don’t think you could ever get a global company to say that an asset will stay in its portfolio forever,” Anton said after a ceremony marking electronics recycling company ERI’s first anniversary at the redeveloped Alcoa plant.
Last November, Alcoa sold its Tapoco hydro project in Western North Carolina and eastern Tennessee for about $600 million, a few years after winning a 40-year renewal of its license. The four-dam project had also powered a smelter that is now shuttered.
Control of the Yadkin’s economic value has pitted Stanly County, site of a now-closed smelting operation, against Alcoa for more than six years. Alcoa now sells electricity that once powered the smelter.
The two finally settled their dispute early this month. The county agreed to support the hydro license in exchange for access to 30 million gallons of water a day and $3 million.
But Alcoa’s chief sustainability officer, Kevin Anton, wouldn’t rule out Wednesday that the hydro project could be sold once the license is in hand.
“I don’t think you could ever get a global company to say that an asset will stay in its portfolio forever,” Anton said after a ceremony marking electronics recycling company ERI’s first anniversary at the redeveloped Alcoa plant.
Last November, Alcoa sold its Tapoco hydro project in Western North Carolina and eastern Tennessee for about $600 million, a few years after winning a 40-year renewal of its license. The four-dam project had also powered a smelter that is now shuttered.
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