A North Carolina energy project Wednesday received the lion's share of federal stimulus funds designated for improving the nation's aging hydroelectric power plants.
The U.S. Department ofEnergy awarded up to $13 million to Alcoa to replace four 90-year-old turbines at theTapoco Cheoah plant near the Little Tennessee River in Graham and Swain counties.
The grant will provide an additional 22 megawatts of capacity to the Alcoa facility, boosting power output by 23percent.
The Alcoa grant is more than twice the amount of the next-biggest award -$6million to the Alabama Power Co.
Alcoa is the nation's largest aluminum producer and generates its own power forindustrial operations.
The Cheoah dam in Robbinsville is part of the Tapoco Hydroelectric Project run by Alcoa Power Generating. The project has four dams - two in Western North Carolina and two in Tennessee - that generate power to operate an aluminum smelting operation in Alcoa, Tenn.
Get the biggest news in your email or cellphone as it's happening. Sign up for breaking news alerts.
Homeowners in North Carolina who owe more than their homes are worth could get principal reductions on their mortgages as early as next month after states and federal agencies announced a $25 billion settlement with the country's largest mortgage servicers. Keep up with the latest business stories with our free e-mail newsletter, delivered straight to your inbox!
Subscribe to Business - it's free!
Subscribe to NC Business News - it's free!
Subscribe to Technology/Biotech - it's free!
