HydroLand, a national renewable energy company, has acquired a 25 megawatt portfolio of hydroelectric facilities from Enel Green Power North America Inc. The portfolio acquired from Enel comprises 13 “run-of-river” environmentally friendly facilities located throughout the Mid-Atlantic, South, and Western US, including California.
“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 company’s foundation in the US and Canada. As Enel Green Power has grown and evolved in North America, so, too, has our strategic focus to grow in areas that best support our global growth targets. We’re proud to have developed and maintained this hydropower portfolio while our focus increasingly turned to wind and solar,” said Georgios Papadimitriou, Head of Enel Green Power North America.