A dam in Kentucky. Author: U.S. Army Corps of Engineers Nashville District. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
Rye Development said Wednesday the Federal Energy Regulatory Commission (FERC) has granted an official hydropower license to its 5-MW Kentucky Lock and Dam 11 Hydroelectric Project.
The facility will be installed at an existing dam on the Kentucky River, which is owned and operated by the Kentucky River Authority, according to the press statement. The project is expected to require an investment of about USD 12 million (EUR 10.6m) in total.
Construction of the hydropower plant (HPP) is scheduled to kick off next year, with completion due in 2018 when the plant will start generating enough electricity to power more than 2,500 local households each year.
The project will be used as the single test subject for FERC’s pilot programme for a new 2-year hydropower licensing process that was mandated by Congress in the Hydropower Regulatory Efficiency Act of 2013. “The implementation of this expedited process can help set the stage for increased development of new hydropower on existing dams throughout Kentucky and the US,” Rye CEO, Ramya Swaminathan, noted.
Rye Development, which is the manager of FFP New Hydro LLC, has a portfolio of 23 HPP projects with a combined capacity of 260 MW on existing US dams.