FFP New Hydro has acquired the 52MW Red River hydro project in Louisiana.
The project has a Ferc hydropower license for the Overton Lock and Dam project, and is located at an existing lock and dam facility owned and operated by the US Army Corps of Engineers.
FFP New Hydro chief executive officer Ramya Swaminathan said: “The development of the Overton hydropower project will represent an investment of more than $130 million in the Rapides Parish, creating hundreds of jobs during construction, operations and maintenance.
“This strategic acquisition will allow FFP New Hydro to grow its portfolio and benefit from economies of scale, which we believe is essential to the development of new hydropower on existing dams.”
Image: Wikimedia Commons
