Tennessee Valley Authority, Argo Infrastructure Partners and Brookfield Asset Management (NYSE:BAM) said late Tuesday they signed a 10-year power purchase agreement, to deliver power from the Smoky Mountain hydroelectric facilities that are jointly owned by Argo and Brookfield.
The companies said Smoky will begin delivering power through the PPA starting in 2025 and supply more than 14 GWh of carbon-free energy to TVA customers over the next decade, advancing TVA's transition towards its 2050 net-zero goal.
Smoky owns and operates a 377 MW portfolio of four hydroelectric power facilities across eastern Tennessee and western North Carolina, generating an average of 1.4M MWh/year of energy.
"We are well positioned to meet increasing demand for power from digitalization and electrification with one of the largest renewable power platforms in the U.S., including our strategically important portfolio of hydro assets that can provide scale dispatchable clean power," according to Stephen Gallagher, CEO of Brookfield Renewable North America.
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