FFP New Hydro LLC, developer of America’s largest portfolio of new hydroelectric projects on existing dams, and AECOM Capital, a subsidiary of AECOM, recently announced the formation of Muskingum River Hydro LLC to develop and construct six hydropower projects on the Muskingum River in southeastern Ohio. Muskingum River Hydro LLC will advance the development of these projects to construction and commercial operation. In the state of Ohio, the projects will represent a potential investment of more than $100 million. Each project is expected to create 100 to 150 jobs during construction as well as continued staffing and service employment during operations.
“The formation of Muskingum River Hydro LLC with AECOM Capital assures that development of the Muskingum River hydropower projects will advance to commercial operation with the benefit of the substantial resources and expertise of AECOM. We are pleased to note that less than 60 days after receipt of FERC licenses for four of these six projects, we have entered into this transformative transaction for the projects,” said Ramya Swaminathan, CEO of FFP New Hydro.
“Muskingum River Hydro LLC represents an attractive opportunity for AECOM Capital to strengthen our commitment to clean energy projects and invest and develop in new hydropower on existing dams alongside the industry leading team of investors and developers at FFP New Hydro,” said AECOM Capital Chief Executive John T. Livingston.
The six projects, four of which have received Federal Energy Regulatory Commission (FERC) licenses, are expected to generate a total of 23 megawatts (MW), enough to power 11,500 homes and sustainably transform the Muskingum River communities. These low-impact generation facilities will be added to existing lock and dam structures owned and operated by the Ohio Department of Natural Resources.
The projects are expected to start construction in 2017 and commence operations by 2018.
Source: URS Corporation
Date: Mar 9, 2016