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Mar 28, 2016 6:07 PM

TransCanada to sell dams in Columbia Pipeline Group deal

The Associated Press

WEST LEBANON (AP) - TransCanada is looking to sell its New England power generation business, including hydroelectric dams on the Connecticut River, as part of its effort to finance its $10 billion acquisition of Houston-based Columbia Pipeline Group.

TransCanada bought 13 hydroelectric dams on the Connecticut and Deerfield rivers from USGen New England in 2005.

The Valley News reports the Wilder, Bellows Falls and Vernon, Vermont, dams are among the assets TransCanada plans to sell. TransCanada also plans to sell its Kibby wind development in Maine; its generation plants in Rhode Island, Pennsylvania and New York and its power marketing business

TransCanada, which had proposed the Keystone XL oil pipeline, has challenged the U.S. government's rejection of the project.

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