Green Island Power Authority Report on Operations May 2025
Albany Engineering Continues Hydro Operations After Asset Sale
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Description
The Green Island Power Authority reports that Albany Engineering has operated hydroelectric plant operations as co-licensee since 2016 and acquired the hydro facility in October 2022, enabling GIPA to retire substantial debt and refinance remaining bonds on better terms. The long-term FERC license continues to govern facility operations and expansion potential.
Contract Details
Vendor
ALBANY ENGINEERING
Agency
Town of Green Island, NY
Contract Type
PROFESSIONAL_SERVICES
Document Date
May 31, 2025
Contract Term
50-year FERC operating license beginning August 2012 (hydro operations maintained by co-licensee starting January 2016; facility sold October 2022)
Renewal Date
2062-08-31
Renewal Info
50-year Federal Energy Regulatory Commission operating license awarded in August 2012; no renewal details mentioned beyond this term.
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