Bradley Lake Hydroelectric Project
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.
FinancingConstruction 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
- 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)