Hydro Green Energy to determine future of projects by year's end

7 months, 2 weeks ago

Company VP says energy market has been "challenging"

The company holding the preliminary permits to develop hydroelectric plants at Lock and Dam 20 at Canton, Mo. and Lock and Dam 22 at Saverton, Mo. says they "will be in a position to fully determine" if they "intend to move through the licensing of these projects" by the end of the year.

In its mandatory six-month progress report for the Federal Energy Regulatory Commission, Hydro Green Energy's Mark Stover wrote the following to the Commission:

"Since the Commission’s acceptance of the NOI-PAD and TLP requests, we have continued to explore these sites for development opportunities. Unfortunately, as the Commission is aware, the U.S. power market has been quite challenging over the past few years, especially for the development of new, low-head hydropower facilities.

Once we complete the performance testing and cost analysis of our low-head hydropower turbine by end-of-year, we will be in a position to fully determine if we intend to move through the licensing of these projects."

Hydro Green received the preliminary permits for Lock and Dam 20 and 22 in April 2010 and received a preliminary permit for a hydroelectric plant at Quincy's Lock and Dam 21 in August 2011 after FERC pulled the permits from the City of Quincy.