On 20 March 2015, Alpiq and Azienda Elettrica Ticinese (AET) signed a contract for the sale of Alpiq Hydro Ticino SA. Finalisation of the sale is expected to take place in the first half of 2015. Alpiq Hydro Ticino SA is a 100 %-subsidiary of Alpiq. The company operates a storage power plant comprising the reservoirs Lucendro and Sella, the Sella power station on the Gotthard Pass, as well as the main power plant in Airolo. The plant has an installed capacity of 60 MW, and average annual production ranges at around 100 GWh. Although, the power plant is located in Ticino, it utilises also water running off from the north. As a result, concessions were granted by both the Canton of Ticino and the Canton of Uri. The decision of both cantons not to extend the 2024 concession was a determining factor for the divestment of Alpiq Hydro Ticino SA.