WISCASSET (AP) – The Maine Yankee Atomic Power Co. announced Thursday that it has completed its agreement to donate 200 acres of land and to pay $200,000 to the Chewonki Foundation to settle a 1999 rate case with the Federal Energy Regulatory Commission.

The 200-acre Eaton Farm has been owned by Maine Yankee since 1968 and served as a buffer between the nuclear plant and Chewonki. Throughout its years of operation Maine Yankee kept the property open to the public recreation, duck hunting and clam digging.

Under the agreement, Chewonki plans to create a nature preserve, maintain public access and establish an environmental education center.

“Chewonki is grateful to be the recipient of land and funds as a result of this settlement agreement,” said Don Hudson, Chewonki’s president. “We take this obligation seriously and plans are already under way for moving ahead.”

As part of a rate-case agreement, FERC required that Maine Yankee donate the Eaton Farm property to a nonprofit environmental organization and to pay $200,000 to the new owners, said Maine Yankee spokesman Eric Howes.

After soliciting interest from more than 20 environmental organizations and colleges, Maine Yankee entertained proposals from three groups interested in the Eaton Farm. Maine Yankee’s directors authorized negotiations with Chewonki.

The Chewonki Foundation occupies a 400-acre peninsula on Montsweag Bay. Each year, it serves more than 40,000 young people in Maine with environmental education lessons and wilderness expeditions.

“We are confident, given Chewonki’s outstanding history as an environmental education organization, that implementation of their Eaton Farm proposal will benefit everyone in the midcoast area,” said Ted Feigenbaum, Maine Yankee president.