Court rules for Alcoa over hydro-electric dams
Alcoa Inc. says the Yadkin River hydroelectric dams it's fighting to continue operating returned profits of nearly $8 million last year.
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Alcoa Inc. originally received its certification in May 2008 for the Yadkin Hydroelectric Project, but the state revoked it in 2010 after it said the company misled state officials when it failed to disclose details on the project's ability to meet the state's water quality standards.
Last month, Alcoa Inc., filed a motion for an administrative law judge in Winston-Salem to dismiss without prejudice its appeal concerning water quality certification.
The dismissal opens the gate for the company to file for new certification to obtain a 50-year license for the project.
The dams, along the Yadkin River, which generated nearly $8 million in 2010, once provided power for Alcoa’s aluminum plant in the area, but that facility closed in 2007.
The electricity is now sold on the open market.
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