Pacific Gas & Electric on March 31 finalized the sale of its Narrows Hydroelectric Project to the Yuba County Water Agency.
The 12-MW facility on the Yuba River in Nevada County is licensed by FERC through 2026 [P-1404]. The $507,500 sale also includes associated water conveyance and infrastructure along with 23 acres of land. Narrows No. 1 has been operational since 1942.
The water agency owns the 55-MW Narrows No. 2 powerhouse [P-2246], located upstream. PG&E and Yuba Water began negotiations in December 2017 and reached an agreement in September 2018. PG&E will take an estimated pretax loss of $4.5 million on the sale, as well as an after-tax loss that is expected to be $3.2 million