Hydro Green gets new funding, chief executive
HOUSTON, Texas — Hydro Green, LLC (HGE), a renewable energy development company with proprietary hydropower technology, has secured an equity capital and project development investment from Providence Renewables, LLC of Dallas, TX.
HGE also announced the appointment of Michael P. Maley as president and CEO.
The new funds will be used to expedite the development of HGE’s nearly 1,000-megawatt pipeline of low-head hydropower projects. The company will hire additional technical, commercial and regulatory personnel, who will facilitate the successful development of HGE’s projects. In addition, the company will continue to fund the research and development of its innovative hydropower technologies. Maley, who has developed over 10,000 megawatts of electric power facilities in his 25 year career, said, “I am thrilled to join Hydro Green Energy and look forward to working with the management team to lead a new era of responsible and aggressive hydropower growth in the United States. I started my career in nuclear power and have participated in virtually every technology. I selected Hydro Green Energy because its technology produces competitively-priced power with a low environmental impact. This, in conjunction with new, pro-hydro policies, is a winning combination.”
Hydro Green Energy developed and installed the only commercial, FERC-licensed hydrokinetic power plant in the United States at Hastings, Minn.
Hydro Green is presently developing 34 low-head hydropower projects at existing non-powered dams in Alabama, Iowa, Illinois, Kentucky, Louisiana, Minnesota, Missouri, Mississippi, North Carolina, Ohio, Oklahoma, Pennsylvania, Wisconsin, West Virginia and Texas. Permits are pending on numerous other proposed projects. The company’s initial project pipeline will result in the development of nearly 1,000 megawatts of renewable electricity that is eligible for a variety of clean energy incentives adopted at the federal and state levels.
Source: Hydro Green, LLC
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