The agreement grants the Penobscot River Restoration Trust a five-year option to buy the dams for around US$25M. If the plan goes ahead a coalition of conservation groups and the Penobscot Indian Nation will remove the Veazie and Great Works dams, while the Howland dam will be decommissioned and fitted with a bypass channel, freeing up over 800km of the Penobscot river to migratory fish.

The groups would also drop their opposition to the relicensing of other PPL facilities in Maine and PPL would be able to increase generation at the dams.

The coalition includes the US Department of the Interior, US Bureau of Indian Affairs, the Maine Department of Inland Fisheries and Wildlife and the Atlantic Salmon Federation.