Yadkin blog
Keep up with the latest news through our blog:
 yadkinproject.blogspot.com
Stay Informed
Sign up for email alerts about water levels, drought conditions and relicensing issues.
Sign up
Did You Know?
Alcoa owns nearly 38,000 acres of land along the Yadkin River, including the property under the water, and pays $1 million in local property taxes each year.
By The Numbers
71%
Percent of North Carolina residents who oppose spending $25 million or more of taxpayer money on a government takeover of the Yadkin Project
See more
They Said It
“What Perdue forgets – or ignores – is that while the Yadkin River is public water, the dams and beds of lakes along the Yadkin belong to Alcoa. … If this somehow falls short of the definition of socialism, then it surely is gubernatorial abuse of authority.”
High Point Enterprise Editorial
April 6, 2009
more
Lake Levels
The latest information on lake levels
Click here
Media Contacts
Request a media interview.
Click here
| |
|
|
Nearly 100 years ago, Alcoa invested millions to build a hydropower business along the Yadkin River in central North Carolina. In the process, Alcoa created a series of four lakes, including High Rock Lake and Badin Lake, which provide numerous recreation opportunities and serve as an important economic engine for the entire region.
Today, Alcoa Power Generating Inc. generates clean and renewable energy under a license from the Federal Energy Regulatory Commission (FERC). APGI has been working with the State of North Carolina and other interested parties for more than five years to discuss the future management of the Yadkin Project. This effort is part of an ongoing effort to obtain a new federal license to generate hydropower.
Homeowners, Environmental Interest Groups and State Agencies Support a New License for the Yadkin Project
Alcoa has reached a Relicensing Settlement Agreement that strikes a balance between many competing interests in the Yadkin River. The agreement will improve water quality, preserve land, protect habitat and improve recreational opportunities along the Yadkin River. Click here for a complete list of benefits associated with a new license.
Click here for a complete list of benefits associated with a new license.
Granting a new license to Alcoa is supported by 23 organizations, including state agencies specializing in water issues (the N.C. Division of Water Resources and the N.C. Division of Water Quality); one of the Yadkin River’s largest water users (City of Albemarle); leading environmental interest groups such as American Rivers and The Nature Conservancy; and other groups representing North Carolina homeowners, recreational users and business interests. Click here for a complete list of supporters.
Click here for a complete list of supporters.
Protecting North Carolina’s Water Interests
Some opponents of Alcoa have argued that North Carolina should oppose a new license to protect its water rights along the Yadkin River. The fact is, the federal government, controls water rights — not Alcoa — and it is responsible for approving water withdrawals, inter-basin transfers and affecting other important water issues that might interest North Carolina in the future.
Alcoa has worked closely with the N.C. Department of Environment and Natural Resources to ensure that North Carolina’s water interests are well represented and strongly supported in the relicensing agreement. For example, the relicensing agreement allows for new or increased water withdrawals by local municipalities, giving North Carolina access to water for growth during the next 50 years.
What A Government Takeover of the Yadkin Project Will Cost Taxpayers of North Carolina
There has been a lot of debate about what a government takeover of the Yadkin Project might cost North Carolina taxpayers. Since a federal takeover has ever been done before, the uncertainty about how much it would cost is understandable. Here is Alcoa’s view:
If the State of North Carolina is determined to take Alcoa’s privately-owned business along the Yadkin River, it will have to pay the company a fair price for its property.
The deadline to pursue a federal takeover of the Yadkin Project expired nearly three years ago. Therefore, there are only two ways for the State of North Carolina to acquire Alcoa’s property: to purchase it directly from the company, or to condemn it. Since Alcoa does not want to sell the Yadkin Project, condemnation is the only remaining option.
When the State of North Carolina condemns property, it must pay fair market value – and the fair market value for the Yadkin Project has been calculated at more than $500 million using standard valuation methodologies.
Click here to learn more. |
|
|
|
|
