U.S. Markets closed

U.S. regulators OK FirstEnergy sale of hydro plants to LS Power

Nov 4 (Reuters) - U.S. federal energy regulators have approved U.S. power company FirstEnergy Corp's sale of hydropower facilities in Pennsylvania, Virginia and West Virginia to a unit of privately held LS Power.

Together, the hydro projects can generate about 526 megawatts, the U.S. Federal Energy Regulatory Commission (FERC) said in an order on Friday.

The biggest plant is the 451-MW Seneca pumped storage project in northwestern Pennsylvania.

One megawatt can power about 1,000 homes.

FirstEnergy said it agreed to sell the plants to LS Power in August as part of its plan to sell non-core unregulated plants.

FirstEnergy filed with federal regulators to sell the plants in September and has said it hopes to close the deal by the end of the year.