|AMP hydro power projects, in which BG involved, mentioned in WSJ article|
|Written by Sentinel-Tribune Staff|
|Friday, 15 November 2013 12:10|
American Municipal Power and others who are contributing to hydro power's "promising future as a source of green energy" was mentioned in a story about worldwide hydro power in Tuesday's Wall Street Journal.
AMP and its member partners, including Bowling Green, are in the midst of developing several projects at existing dam sites on the Ohio River.
The projects will add more than 300 megawatts of renewable generation to the regional grid and is the largest such effort in the nation.
AMP is developing the projects at the Smithland, Cannelton, Meldahl and Willow Island dams . The first facility to complete construction will begin commercial operation in 2014. AMP is developing the Meldahl project in partnership with its member community of Hamilton. A total of 83 AMP member communities are participating in one or both of the project phases and will share output from the facilities.
"AMP and our members have long believed in the value of hydroelectric generation," AMP President & CEO Marc Gerken said. "Unfortunately, hydro is often overlooked in terms of renewable generation sources; it's good to see the national media recognizing the efforts of AMP and other organizations."
Gerken serves as president of the National Hydropower Association and has been a vocal advocate of the benefits of the generation resource on a national level.
The projects are fully financed through the issuance of both taxable and tax-advantaged bonds. Additionally, hydro generation does not carry the future regulatory and financial risks of other generation sources, AMP officlas had said. There are no emissions, no waste stream and no fuel cost uncertainty. The largest portion of the fixed-costs of the projects is debt service on the bonds. After the debt is retired, power costs become extremely inexpensive. The expected life of the hydro plants AMP has under construction is 80-100 years.
AMP built and operates the Belleville Hydroelectric Plant on the Ohio River on behalf of 42 AMP member communities in Ohio who own the facility through a joint venture. Bowling Green is among those communities who purchase power from the unit. That plant began commercial operation in 1999 and AMP officials report it has operated consistently above original projections and at costs below what was anticipated in initial feasibility studies. That plant is being used as a model for the new facilities under construction and to train future plant operators.
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