Maryland reached a more than $340 million agreement with Constellation Energy to clear the way for federal re-licensing of the Conowingo Dam, the governor's office said Thursday.

The deal funds years of water-quality and habitat projects aimed at restoring the Chesapeake Bay, according to the governor's office.

The agreement, negotiated with Waterkeepers Chesapeake and the Lower Susquehanna Riverkeeper Association, sets enforceable conditions tied to the dam's federal license and is intended to offset environmental impacts from its operation, Gov. Wes Moore alongside other Maryland leaders announced Thursday.

The settlement allows Constellation to continue generating hydroelectric power at the dam on the Susquehanna River, which the state calls Maryland's largest source of renewable ene

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