The agreement will combine the strengths of both companies, they said in a statement. Engevix has extensive energy infrastructure experience, including participation in the implementation of more than 60,000MW of hydropower. Hydro Green Energy has proprietary technology and a large number of projects presently under development.
“Hydro Green Energy is excited about the prospects of working side-by-side with Engevix,” commented 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 US. It may also be the launch platform for our future international initiatives.”
“We look forward to working with Hydro Green Energy to build new, clean and reliable hydropower facilities in the US,” added José Antunes Sobrinho, Executive Director of Engevix.