(JACKSON, MICHIGAN) Consumers Energy says they have entered into an agreement to seel 13 of their hydroelectric dams to a private equity firm from Maryland, including the Hardy Dam in Newaygo County and the Webber dam in Ionia County. The company called Hull Street Energy would take control and refirbish the aging dams located on five michigan rivers. The CEO of Hull Street Energy Ed Quinn said; the company would retain all of the Consumers hydro employees. He added; "they are committed to preserving and modernizing these important resources to maximize their contribution to the grid. We see extraordinary opportunity to leverage our combined strengths to build a best-in-class hydro company – one that protects communities, supports employees, mitigates risk, and delivers reliable, clean energy for the future.”
The new company will pay one dollar for each dam, the specific details about the sale was not released by Consumers and has agreed to sell energy back to Consumers for the next 30 years. The dams are located on the Au Sable, Manistee, Muskegon, Kalamazoo and the Grand Rivers.
The deal must still be approved by the Michigan Public Service Commission and the Federal Regulatory Commission and that could take some time. Consumers estimates that it will be late 2026 or early 2027 before the approval is given.