SOURCE: Hydro Green Energy

November 28, 2011 09:54 ET

Hydro Green Energy Signs Agreement With Engevix Engenharia S.A.

Companies to Explore Joint Development of Hydropower Projects

WESTMONT, IL--(Marketwire - Nov 28, 2011) - Hydro Green Energy, LLC (HGE) and Engevix Engenharia S.A. and have signed an agreement establishing the desire to jointly pursue the development of at least four new hydropower projects in the United States of America.

The agreement combines the strengths of each company -- Hydro Green Energy is an experienced renewable energy developer with proprietary technology and a large number of projects presently under development, and Engevix is a world-renowned engineering company with unsurpassed energy infrastructure experience, including the participation in the implementation of more than 60,000 MW of hydropower.

"Hydro Green Energy is excited about the prospects of working side-by-side with Engevix," stated Michael P. Maley, President and CEO of Hydro Green Energy. "Given the present scale of our project development activities, we felt it was necessary to bring in a teammate with outstanding hydropower experience. This relationship will allow us to be among the leaders in the new era of hydropower growth in the U.S. It may also be the launch platform for our future international initiatives."

"We are bullish on the American hydropower market and the impact it can make on the U.S. green power sector," stated José Antunes Sobrinho, Executive Director of Engevix. "We look forward to working with Hydro Green Energy to build new, clean and reliable hydropower facilities in the U.S."

Engevix Engenharia S.A., a Brazilian company in operation since 1965, provides engineering studies, project design, EPC (Engineering, Procurement and Construction) integration and project management in the areas of energy, industry and infrastructure. The company maintains headquarters in São Paulo, Brazil, and is currently involved in projects in more than 15 countries.

Hydro Green Energy is a private U.S. company focused on developing new hydropower at existing non-powered dams using its proprietary technology. The company, headquartered in Westmont, IL, is presently developing nearly 300 MW of hydropower capacity in 14 states. These projects will provide enough annual power output for over 161,000 homes and annually avoid 2.2 billion pounds of carbon emissions.

Contact Information

  • Contact for Engevix Engenharia S.A.:
    Alessandro Carraro
    Director of International Business
    Email Contact

    Contact for Hydro Green Energy:
    Mark R. Stover
    Vice President of Corporate Affairs
    Email Contact