The project, financed with $25,000,000 in public and private money, calls for the elimination of the Veazie and Great Works dams and the construction of a fishway at the Howland Dam along the Penobscot River. In return, Pennsylvania-based power producer PPL Corp. will be allowed to increase production of electricity at other dams along the river.
Besides PPL, the project involves the Penobscot Indian tribe, seven conservation groups and state and federal agencies, whose representatives joined Gov. John Baldacci yesterday to announce the purchase of the three PPL dams.
Backers are avoiding a $1,000,000 increase in the dams’ purchase price by exercising an option to buy them a year ahead of schedule.