Aluminum producer Alcoa, Inc. (AA) said it is selling its FERC-licensed, 351-megawatt Tapoco Hydroelectric Project to Brookfield Renewable Energy Partners. The sale, involving non-core assets, is expected to fetch Alcoa proceeds of $600 million, upon closing, subject to customary federal and state regulatory approvals.
The transaction, which is expected to close by year-end, will include the four generating stations and dams, 86 miles of transmission line, and about 14,500 acres of land associated with and surrounding Tapoco. Tapoco is a four-station hydroelectric project located on the Little Tennessee and Cheoah Rivers in eastern Tennessee and western North Carolina, and is operated by Alcoa Power Generating Inc., a wholly owned subsidiary of Alcoa.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.