Consumers Energy announced Tuesday it signed an agreement to sell its 13 hydroelectric dams to a Maryland hydropower company that will continue to operate the dams and use them to generate electricity.

The utility will sell the dams for $1 each and transfer their operating licenses to Confluence Hydro, a subsidiary of Hull Street Energy, company executives announced. Confluence Energy will refurbish the dams and sell the energy they produce back to Consumers.

Consumers for years has been planning to offload the dams , which account for approximately 1% of its capacity and cost more to operate than its other energy sources. Selling the dam is the most cost-effective option for customers, said Sri Maddipati, Consumers president of electric supply.

“We’re confident this is the best optio

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