FRESNO, Calif. (KSEE/KGPE) – PG&E’s Tule River Hydroelectric Project has been sold to Tule Hydro LLC due to its costly operations, according to an announcement from the utility company on Friday.
PG&E says that they posted a request for purchase offers for the Tulare River Project in mid-2018. They executed a purchase and sale agreement with Tule Hydro LLC in December 2021.
PG&E says that the project was sold because it was no longer an economic source of electric generation for PG&E’S customers due to it being far from other PG&E hydroelectric facilities and the regional headquarters, which made it hard and expensive to operate it.
The Tule River Project was built in 1914 and includes a 6.4-megawatt powerhouse, three water diversions, water conveyance systems, and 42 acres of land held in a conservation easement.
According to PG&E, several structures related to the penstock pipe were damaged in 2017 during a wildfire, and the project has been non-operational since.
Officials say that PG&E sought approval of the sale from the California Public Utilities Commission and approval of the license transfer from the Federal Regulatory Commission, and their approvals were received in late 2022. Escrow closed on May 25.