Italian company "IdroEnergia" and "EcoEnergy" agree to build mini-hydroelectric power station in Dagestan

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Makhachkala, May 23, 2020. Dagestan company EcoEnergy and the Italian company IdroEnergia agreed to join forces in the construction of mini-hydro power plants in the Republic of Dagestan. The companies intend to jointly form a portfolio of investment projects for the construction of mini-hydro power plants in Dagestan using the competitive advantages of each of the parties.

Accompanied by the implementation of construction projects, Dagestan Development Corporation JSC also plans to take part in the project. The main focus of the joint activity is aimed at the implementation of standard small hydro generation projects with a capacity of up to 5 MW with the simultaneous use of solar energy to increase efficiency.

Since 2016, EcoEnergy has developed a large portfolio of promising projects for small hydropower plants in the Republic of Dagestan with the total capacity of to more than 275 MW and is now engaged in the development and structuring of portfolio implementation with the investment and technological partners.

The Italian company IdroEnergia has expressed interest in participating in the implementation of a part of portfolio project of EcoEnergy. As a result of several months of negotiations, an Agreement on cooperation between the companies was signed.
“The EcoEnergy agreement with IdroEnergia is a significant step in the process of attracting investments in regional projects. We expect that the partnership with an Italian company will accelerate their implementation as much as possible. It is very important that the foreign investments come to Dagestan and we intend to provide all possible assistance in order to create the most favorable conditions and investment climate in the region. We are aiming for others to follow these projects, the main thing is to prepare fertile ground for them and to demonstrate positive results” - Arthur Alibekov, the Director General of Dagestan Development Corporation JSC said.

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