For nearly 100 years, Alcoa-Yadkin has been generating clean renewable energy from a series of hydroelectric dams along the Yadkin River in central North Carolina. Today, the lakes created by the dams are popular recreation spots that help serve as an economic engine for the region.
Yadkin Project receives new long-term license from Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission (FERC) today formally issued a new, long-term license for the Yadkin Hydroelectric Project, currently owned by Alcoa Power Generating Inc. (APGI). The Project is comprised of four hydroelectric dams along the Yadkin River in central North Carolina.
The license is effective until March 31, 2055.
In July, APGI reached agreement with Cube Hydro Carolinas LLC, an affiliate of Cube Hydro Partners, LLC to sell the Yadkin Hydroelectric Project. The sale is expected to close before the end of the year.
“We are pleased to receive the federal license and are confident that Cube Hydro will continue to build upon our century-long legacy of generating clean, renewable energy and protecting the natural resources of the region,” said Ray Barham, APGI’s relicensing manager for the Yadkin Project.
Alcoa reaches agreement to sell Yadkin Project
Alcoa Power Generating Inc. (APGI) has reached an agreement to sell the Yadkin Hydroelectric Project to Cube Hydro Carolinas LLC, an affiliate of Cube Hydro Partners, LLC. The sale is expected to close later this year.
The Relicensing Settlement Agreement for the Yadkin Project remains in effect and improvements in the agreement will be implemented by Cube Hydro Partners once the transaction is closed and a new FERC license is issued. Alcoa will continue to own the Badin Business Park and promote economic development opportunities in Stanly County.
Read the news release from Cube.
Information for Pier Permit Holders
If you are pier permit holder, you won’t see any changes in how the lakes along the Yadkin River are currently managed. We will continue to operate “business as usual” until the sale is completed.
We are confident that Cube Hydro will continue our century-long legacy of generating clean, renewable energy along the Yadkin River while protecting the natural resources of the region
The Relicensing Settlement Agreement (RSA) – an agreement that delivers significant benefits to the local community – will remain in place and will be implemented by Cube Hydro once a new federal license is issued for the Yadkin Project. This agreement was developed in partnership with local stakeholders and is supported by more than two dozen organizations, including the High Rock Lake Association, Badin Lake Association and Uwharrie Point Community Association. One of the most notable benefits for homeowners is a revised Shoreline Management Plan that will provide more flexibility when it comes to shoreline development, including pier design and construction.
Badin Business Park
Alcoa opened one of the nation’s first aluminum smelters in North Carolina and produced aluminum here for more than 75 years. Since closing the plant in 2010, Alcoa has invested more than $15 million to transform the property into a modern business park. Today, it is home to Electronic Recyclers International, the nation’s largest recycler of electronic waste.
ERI to Hire 75 New Employees in Badin
ERI Celebrates One Year at New Badin Business Park Facility
Alcoa-Yadkin operates four dams, collectively known as the Yadkin Project, that are regulated by the federal government. It is currently working to renew its federal hydro license and has agreed to make positive improvements that will enhance water quality, expand parks, create more recreational opportunities, and better protect the local water supply. Alcoa receives two significant legal victories in Sept. 2015 related to its relicensing efforts.
Alcoa finally receives water quality certificate from NC
Judge confirms Alcoa’s ownership of Yadkin River property and dismisses state’s lawsuit
Summary of Relicensing Benefits
Improving Our Community
Pfeiffer University will host a series of summer camps focused on science, technology, engineering and math (STEM) next year, thanks to a $20,000 grant provided by the Alcoa Foundation.
Pfeiffer receives $20,000 gift from Alcoa Foundation
Alcoa Foundation donates $20,000 to Stanly Community College
Catching up with Pfeiffer recipients
Protecting Our Environment
Alcoa is committed to protecting our beautiful natural resources and has made a concerted effort to preserve more than 15,000 acres of land along the lakes. It’s a perfect habitat for bald eagles, osprey and a host of other wildlife and provides a natural buffer to protect the water.
The Badin Lake Osprey Cam: Easter Eggs Arrive