ADVFN - Advanced Financial Network.
HOME» NYSE » A » AA Stock Price » AA Stock News

Alcoa Share News

 Alcoa, Inc. Stock Price
AA Stock Price
 Alcoa, Inc. Stock Chart
AA Stock Chart
 Alcoa, Inc. Stock News
AA Stock News
 Alcoa, Inc. Company Information
AA Company Information
 Alcoa, Inc. Stock Trades
AA Stock Trades

Alcoa To Sell Tapoco Hydroelectric Project for $600 Million To Brookfield Renewable

By Melodie Warner Alcoa Inc. (AA) agreed to sell its 351-megawatt hydroelectric project, Tapoco, to Brookfield Renewable Energy Partners L.P. (BRPFF, BEP.UN.T) for $600 million. Tapoco is a four-station hydroelectric project located on the Little Tennessee and Cheoah Rivers in eastern Tennessee and western North Carolina. The sale includes four generating stations and dams, 86 miles of transmission line and about 14,500 acres of land surrounding Tapoco. Brookfield Renewable said it will own a 25% stake in the project and the remaining equity interest will be funded by an institutional fund managed by Brookfield Asset Management Inc. (BAM, BAM.A.T). "We believe this acquisition provides a unique opportunity to capture rising electricity prices, and our operating platform and expertise is well-suited to maximize the value of this portfolio over the long term," said Brookfield Renewable President and Chief Executive Richard Legault. Alcoa, the top U.S. aluminum producer, said it expects to close the deal by the year end. In April, Alcoa said it would cut alumina production by about 2% this year as it looks to reduce smelter capacity amid global overcapacity and slumping prices for the lightweight metal. The lower prices and higher costs for energy contributed to its first-quarter earnings falling 69%. The company said it would contend with sluggish aluminum prices by cutting costs and relying more on high-margin end products less vulnerable to slumping metal prices, such as bolts and wheels for cars and airplanes. Write to Melodie Warner at melodie.warner@dowjones.com

Stock News for Alcoa (AA)
DateTimeHeadline
10/24/201409:33:45U.S. Hot Stocks: Hot Stocks to Watch
10/09/201417:47:09MARKET SNAPSHOT: Dow Suffers Worst Selloff In More Than A Year
10/09/201417:24:58MARKET SNAPSHOT: Dow Erases All Of Wednesday's Gain As Stocks...
10/09/201417:22:36MARKET SNAPSHOT: Dow Erases All Of Wednesday's Gain As Stocks...
10/09/201417:21:01MARKET SNAPSHOT: Dow Erases Nearly All Of Wednesday's Gain As...
10/09/201417:16:08MARKET SNAPSHOT: U.S. Stocks Suffer Hangover Thursday After Biggest...
10/09/201417:13:58U.S. Stocks Drop After Big Rally
10/09/201417:12:58MARKET SNAPSHOT: U.S. Stocks Edge Lower In Wake Of Wednesday's...
10/09/201417:08:25MARKET SNAPSHOT: U.S. Stocks: Futures Trim Losses After Jobless...
10/09/201417:07:33U.S. Stock Futures Drop After Rally
10/09/201417:03:18MARKET SNAPSHOT: U.S. Stocks: Futures Lower Ahead Of Full Slate...
10/08/201416:47:36MARKET SNAPSHOT: S&P 500 Records Best Gain In A Year
10/08/201409:02:28U.S. Stock Futures Edge Higher After Selloff
10/08/201407:41:50MARKET SNAPSHOT: U.S. Stocks: Futures Struggle As Investors Wary...
10/08/201406:09:10MARKET SNAPSHOT: U.S. Stocks: Futures Inch Up, With Investors...
10/07/201415:51:19MARKET SNAPSHOT: Dow Drops More Than 200 Points
10/07/201410:34:15MARKET SNAPSHOT: U.S. Stocks Extend Losses In Choppy Trade
10/07/201409:55:27MARKET SNAPSHOT: U.S. Stocks Drift Lower Ahead Of Earnings
10/07/201408:52:26U.S. Stock Futures Inch Lower, Following Europe's Lead
10/07/201408:37:21MARKET SNAPSHOT: U.S. Stocks: Futures Fall As Investors Book...

Alcoa and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad