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FERC Issues Annual License for Yadkin Project

PR Newswire, May 5, 2008

BADIN, N.C., May 5 /PRNewswire/ -- The Federal Energy Regulatory Commission (FERC) has issued an annual license for the Yadkin Hydroelectric Project operated by Alcoa Power Generating Inc. (APGI). The annual license mirrors the conditions of APGI's current license and will remain in effect until a new license for the Yadkin Project is issued.

"We fully expected to receive an annual license, with the expectation that a new license will be issued by FERC in the next several months," said Gene Ellis, APGI licensing and property manager. "As soon as the new license takes effect, we will move forward with implementing the many positive benefits outlined in our Relicensing Settlement Agreement."

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The Relicensing Settlement Agreement, supported by 23 organizations across North Carolina and South Carolina, will improve water quality, extend the recreation season, allow for increased water withdrawals from the Yadkin River and protect the water supply during times of drought. In addition, APGI will donate or sell more than 6,000 acres of land (approximately 40 percent of its land holdings in central North Carolina) for conservation, recreation and game lands. That includes the donation of more than 1,000 acres for the expansion of Morrow Mountain State Park. APGI also has begun a $200 million refurbishment and upgrade project that is providing new jobs and improves water quality.

"Everyone is eager to reap the benefits of our new license, especially homeowners and recreational users who will benefit from higher lake levels, new swim areas, fishing piers and camp sites, as well as changes to our Shoreline Management Plan," Ellis said.

FERC staff issued its Final Environmental Impact Statement (EIS) for the Yadkin Project on April 18. That document supports the Relicensing Settlement Agreement and recommends a new license for APGI. In addition, the Final EIS reiterates that a federal takeover of the project is not a reasonable alternative and will not be considered.

CONTACT: Gene Ellis, Licensing and Property Manager of Alcoa Power Generating Inc., +1-704-422-5606, +1-704-796-5824 Mobile, gene.ellis@alcoa.com

FERC Issues Annual License for Yadkin Project

PR Newswire, May 5, 2008

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