FERC okays sale of Bucksport Mill generation assets

The Federal Energy Regulatory Commission on Oct. 7 approved an Aug. 5 application from Bucksport Mill LLC for commission authorization for the disposition of jurisdictional facilities to its affiliate, Bucksport Generation LLC.

Bucksport Mill is owned by AIM Development (USA) LLC, a wholly-owned subsidiary of American Iron & Metal Company Inc.  Bucksport Mill owns three generating units totaling 118 MW, a 28% interest in a 185-MW cogeneration facility located in Bucksport, Maine, and equipment necessary to interconnect the generation units to the transmission system operated by ISO New England.

Bucksport Generation is also owned by AIM Development. Bucksport Generation already has a 72% interest in the cogeneration facility and its interconnection equipment.

Upon completion of the now-approved transaction, Bucksport Generation will acquire the Bucksport Mill assets and any related books and records. Under a Contribution Agreement that was executed on June 1, 2016, the Bucksport Mill assets will be sold to Bucksport Generation in exchange for a 10% interest in Bucksport Generation.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.