HydroLand has acquired a 25-megawatt portfolio of hydroelectric facilities, located throughout the Mid-Atlantic, South and Western United States, from Enel Green Power North America, Inc.
The 13 “run-of-river” hydroelectric plants are small facilities compared to large-scale hydroelectric facilities, according to HydroLand. The company said there is tremendous potential for developing more hydropower by taking existing facilities and increasing their capacity with modern equipment and operating systems.
Many of these facilities are up to 70 years old and can be retrofitted for enhanced power generating capacity and efficiency.
“The closing of this acquisition is a major step for us as we execute our plan to acquire, optimize and modernize underutilized hydroelectric facilities and ultimately turn them into green energy parks that support the transition to renewable energy,” said Cory Lagerstrom, CEO of HydroLand.
“Run-of-river hydro has been our