Hydroelectric Corporation : ENEFIIN and Hydroelectric Corporation in November 2021 have signed a strategic partnership agreement to develop offshore pumped hydro projects in Italy.
From November 2021 ENEFIIN and Hydroelectric Corporation are entering into a strategic partnership with the aim to secure financing for upcoming projects.
The focus will be on structuring JVs with local developers for the planning and construction of offshore power plants, with the possibility to combine electrolyzer technology to produce green Hydrogen from sea water. The offshore powerplant key advandage is to offer reliable baseload power 24/7 with no exposure to weather conditions
There is a clear distribution of roles. Enefiin will, as a consulting partner and potential investor, facilitate and potentially co-manage Joint Ventures (JV) or Single Surpose Companies in Italy (SPC), while Hydroelectric will be responsible for the technology and implementation of the project in question.
“We are very enthusiastic about this partnership which will allow us to support Hydroelectric Corporation to enter in the Italian market, which right now is opening up to large-scale offshore renewable projects, but also at the corporate level for a wider expansion plan in other markets”, says Luciano Pellettieri, CEO of ENEFIIN Group.
Hydroelectric Corporation is a Texas based company with the objective to manufacture non-storage offshore hydropower plants. The company’s long-term strategy is to become the largest provider of renewable energy worldwide. The current power plant design supports over 500 MWs of continuous power per plant and is not subjected to rain, wind, or solar to support the plants operations. The project plan is to build 5 to 10 ZERO carbon power plants per year.
Intermittent power, such as wind and solar power will not be enough to cover the loss of fossil fuels, but the solution proposed by Hydroelectric Corporation will. Hydropower is, per today, the only option to stabilize the electricity grids in case of material shortage in gas or coal.
Hydroelectric Corporation is making BLUE ENERGY the new green energy!