Climate Adaptive Infrastructure (CAI) has teamed up with Rye Development to fund the construction of 22 US hydroelectric projects.
CAI is expected to invest up to $150m (€124m) into the Rye Hydro projects which add 250MW of low carbon generation at existing non-powered dams in Kentucky, Louisiana, Mississippi, Ohio, Pennsylvania and West Virginia.
Bill Green, founder and managing partner of Climate Adaptive Infrastructure, said: “The Rye Hydro investment is a perfect fit with CAI’s mission to fund large-scale, low-carbon infrastructure projects that withstand the policy risks and economic pressures of the global climate crisis.”
Paul Jacob, CEO of Rye Development, said: “CAI is an ideal partner as they bring substantial industry expertise and have unparalleled access to every corner of the low-carbon infrastructure investment and policy ecosystem.”
Dan Reicher, a CAI partner, said: “Through its partnership with Rye Development, CAI is seizing critical and timely opportunities that will increase US low-carbon electricity generation, help integrate variable solar and wind into the grid, and create jobs – all without building a single new dam.”
To read the digital edition of the latest IPE Real Assets magazine click here.