The Bradley Lake Hydroelectric Project was energized September 1991 after five years of construction and 36 years after the U.S. Army Corps of Engineers first investigated the possibility of a hydroelectric project in the area.
GVEA receives 17% of the power generated, or approximately 20 megawatts, which is transmitted via the Intertie. The power, both environmentally clean and economical, averages 4 cents per kilowatt-hour. This low-cost power helps smooth out the peaks and valleys associated with price fluctuations of fossil fuels.
Financing
Construction of the major facilities cost $312 million. Financing costs brought the total to $328 million, still $43 million below the original cost estimates. The state of Alaska funded $175 million directly and the five participants financed the balance through bonds.
Alaska's Largest Hydroelectric Project
Project participants:
- City of Seward
- Chugach Electric Association
- Golden Valley Electric Association
- Homer Electric Association
- Municipal Light & Power
- Alaska Electric Generation & Transmission Cooperative (Homer Electric and Matanuska Electric Associations)
