Akin Gump Assists FirstEnergy in Sale of 11 Hydroelectric Power Facilities

(Washington, D.C.) – Akin Gump Strauss Hauer & Feld LLP advised FirstEnergy in the sale of 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to Harbor Hydro Holdings, LLC, a subsidiary of LS Power Equity Partners II, LP.

A sales agreement was reached on August 23, and, if approved, the proposed transaction is expected to close in the fourth quarter of 2013. The hydroelectric power stations included in this proposed sale are owned by FirstEnergy Generation, LLC; Allegheny Energy Supply Company, LLC; and Green Valley Hydro, LLC and have a total capacity of 527 megawatts.

The Akin Gump deal team was led by Washington, D.C. corporate partner Daniel Fisher and included international managing partner Rick Burdick; corporate partner Jeremy Schwer and associate Richard Gadhia; energy regulation, markets and enforcement practice co-head Julia Sullivan, partner Chip Cannon and associate Porter Wiseman; and tax senior counsel Austin Lilling and senior attorney Dan Vira and labor counsel Beth Cyr.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.

 

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