Exelon Generation announced reached an agreement with the State of Maryland that aims to preserve Conowingo Dam and deal with the health of Chesapeake Bay.
Conowingo is located 25 miles west of Newark and is one of largest privately-owned dams in the nation. Exelon owns Delmarva Power and other utilities in the region.
The benefits to Maryland and the Chesapeake Bay are valued at more than $200 million over the anticipated 50-year life of the license, which will be funded from the dam’s earnings over that time period.
The agreement, which must be approved by the Federal Energy Regulatory Commission aims to protect and enhance the health of the bay, including improving water quality, fish and eel passage, marine habitats, and debris removal, an Exelon release stated.
The agreement will also provide for the continued production of electricity from the dam, which is vital to the state’s goal of moving toward producing its electricity from renewable sources.
“Exelon Generation and the State of Maryland share a commitment to restoring and sustaining the health of the Chesapeake Bay, which has been strengthened by this agreement,” said Chris Crane, CEO of Exelon. “This is a victory for clean energy and the long-term preservation of the Chesapeake Bay. The agreement is designed to substantially improve water quality while ensuring Maryland’s largest source of renewable energy continues to deliver environmental and economic benefits for the next generation.”
The dam powers approximately 165,000 homes in the region. Its operation does not produce any pollution and is a significant contributor to combatting climate change.
The dam generates $273 million in economic activity and supports 265 full-time equivalent jobs.
The recreational resources associated with the dam receive 365,000 visits per year, contributing to Cecil and Harford Counties’ 2018 tourism tax revenue of $21.7 million, an Exelon release stated.
