Consumers Energy reaches agreement to sell 13 Michigan hydroelectric dams

Consumers Energy signed a purchase agreement to sell its 13 hydroelectric dams along five Michigan rivers to Confluence Hydro, an affiliate of Hull Street Energy. The decision will reduce long-term costs for Consumers Energy customers, ensure the dams will continue to operate safely and provide economic and recreational benefits for nearby communities. Consumers Energy has agreed to sell the facilities to Confluence Hydro, a wholly owned subsidiary of Hull Street Energy. Hull Street Energy is an investment firm that has significant experience owning, operating and investing capital in power generation assets across North America, including 47 hydroelectric facilities. The sale will need approval from state and federal regulators and could take place in approximately 12 to 18 months. Under the agreement’s terms, Confluence Hydro will enter into a contract with Consumers Energy to provide power from the facilities for 30 years. The company plans to seek approval to renew the dams’ federal operating licenses, which are set to expire beginning in 2034.