KODIAK - Officials from Kodiak Electric Association have signed off on the final agreement to purchase the Terror Lake hydroelectric facility.
The agreement ends the Four Dam Pool and provides KEA the opportunity to meet its goal of 95 percent non-fossil fuel reliance.
KEA Director Stosh Anderson said the purchase paves the way for the organization to pursue more alternative energy projects and for customers to enjoy more stable power rates.
KEA Chief Executive Darren Scott says that, combined with the ongoing wind energy project, the power company is nearing its goal of 95 percent renewable energy and that the purchase of the hydro-power facility provides flexibility for future endeavors.
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