HydroLand takes over Enel’s 25 MW portfolio of hydroelectric assets

The latest transaction forms the first step in HydroLand’s aim of creating green energy parks.

Poland’s national renewable energy company- HydroLand has recently announced acquiring a 25 megawatts suite of hydroelectric facilities from Enel Green Power North America, Inc. The portfolio acquired consists of 13 ‘run-of-river’ environmentally friendly facilities situated throughout South, Mid-Atlantic, and Western United States, including California.

As per official sources, run-of-river hydroelectric plants are relatively small in comparison to large-scale hydroelectric facilities. There currently stands a tremendous potential for developing more hydropower by taking existing facilities and augmenting their capacity with contemporary equipment and operating systems.

Moreover, the acquisition of Enel is expected to enable HydroLand to develop green energy parks across the North America, especially in Northeast and West.

Commenting on the acquisition, CEO of HydroLand- Cory Lagerstrom- cited that the closure of this transaction deal is considered to be an important step for the company as it looks to execute its plan of acquiring, optimizing, and modernizing some of the underutilized hydroelectric facilities.

Besides, it is also expected to eventually turn them into green energy parks that can in the near future support the transition to renewable energy.

On the other hand, Head of Enel Green Power North America, Georgios Papadimitriou, reportedly quoted that run-of-river has been the company’s foundation in the United States and Canada since over a while now.

He added that Enel Green Power North America is extremely delighted to develop and maintain the hydropower portfolio while continually laying focus on augmenting its wind and solar portfolios subsequently.

For the record, with the help of its environmentally friendly approach and disciplined engineering, HydroLand is seeking to restore and enhance hydroelectric facilities to provide modern and state-of-the-art electric generation abilities for the grid.

Source Credit: https://www.prnewswire.com/news-releases/hydroland-acquires-25-megawatt-portfolio-of-hydroelectric-assets-from-enel-green-power-north-america-301235161.html