Tennessee Valley Authority Together With Argo Infrastructure Partners And Brookfield Asset Management, With Its Listed Affiliate Brookfield Renewable Announces The Signing Of A Landmark 10-Year PPA With Power To Be Delivered By The Smoky Mountain Hydroelectric Facilities, Which Is Jointly Owned By Argo And Brookfield
- 10-year PPA to deliver power from Argo and Brookfield's Smoky Mountain Hydro Facilities located in east Tennessee and western North Carolina
- The hydro facilities will provide 377 MW of reliable, clean energy to meet demand growth in TVA's service territory
- The PPA will support TVA's energy transition goal to achieve net-zero by 2050
Tennessee Valley Authority ("TVA") together with Argo Infrastructure Partners, LP ("Argo") and Brookfield Asset Management ("Brookfield") (NYSE:BAM, TSX:BAM), with its listed affiliate Brookfield Renewable (NYSE:BEP, BEPC, TSX:BEP, BEPC))) today announced the signing of a landmark 10-year power purchase agreement ("PPA") with power to be delivered by the Cheoah, Calderwood, Chilhowee and Santeetlah dams, together known as the Smoky Mountain Hydroelectric facilities ("Smoky"), which is jointly owned by Argo and Brookfield.
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Smoky will begin delivering power through the PPA starting in 2025 and over the next decade, will supply more than 14 gigawatt hours of carbon-free energy to TVA customers, advancing TVA's transition towards its 2050 net-zero goal.
Smoky currently owns and operates a 377-megawatt portfolio of four hydroelectric power facilities across east Tennessee and western North Carolina. This portfolio generates an annual average of 1.4 million megawatt-hours of carbon-free energy—equivalent to approximately 1.1 million tons of CO2 emissions avoided each year.
