MANHATTAN, New York, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Relevate Power, a leader in the redevelopment of run-of-river hydropower assets, has received a $4.9 million grant from the Department of Energy (DOE) to boost efforts in improving the efficiency of hydroelectric facilities. This funding was made possible by the Bipartisan Infrastructure Law (BIL) and will better equip Relevate Power to increase energy generation capacity, improve grid resilience, and enhance safety and sustainability efforts at its facilities.
These grants are part of a broader effort by the DOE to modernize the U.S. hydroelectric infrastructure, supporting both operational enhancements and environmental protections, and fall under two sections of the Energy Policy Act. Relevate Power received $2.9 million under Section 247, which focuses on maintaining and enhancing hydroelectric facilities, improving grid resilience, and upgrading dam features. An additional $2.0 million was awarded under Section 243 to support operational efficiency improvements at Relevate Power’s projects, aiming for a minimum 3% increase in energy generation efficiency.
This funding is a significant investment in the modernization of the U.S. hydroelectric infrastructure. In addition to allowing Relevate Power to upgrade hydroelectric generators and transmission lines for improved grid reliability, it enables the company to enhance dam safety infrastructure, protecting local communities. The grants also facilitate the implementation of environmentally sustainable practices, such as sediment management, fish passage improvements, and water quality enhancements.
“Relevate Power is proud to be recognized for our efforts to modernize the country’s hydroelectric infrastructure,” said Matthew Wenger, CEO of Relevate Power. “These grants will enable us to accelerate our upgrades, improving dam safety and performance while helping us better manage the rivers and lakes our local communities depend on.”
“These capital improvements are essential for maintaining the reliability and efficiency of our hydropower assets,” said Tony Zarrella, Vice President of Engineering and Operations at Relevate Power. “By enhancing safety protocols, upgrading equipment, and integrating sustainable practices, we’re ensuring our facilities not only meet today’s standards but are ready for a 24/7 renewable energy future.”
Hydropower provides reliable, baseload energy that complements intermittent renewable sources such as wind and solar. The upgrades made possible by these grants will enable Relevate to improve operational efficiency and grid resilience while ensuring compliance with evolving safety and environmental regulations.
"These grants underscore the Department of Energy’s recognition of the critical role that hydro projects play in building a greener grid and will be transformative in advancing projects that closely align with Relevate Power's mission,” said Ian Finlay, Chief Financial Officer of Relevate Power. “This support enables us to lead the energy transition by making targeted upgrades that will boost clean, reliable generation and modernize facilities with a longstanding legacy in powering the nation."
The projects funded by these grants are expected to be completed within the next two years, with some improvements already underway.
About Relevate Power
Founded in 2022 from the merger of IPPs Dichotomy Power and Clear Energy, along with the power marketing firm Standard Power, Relevate Power is committed to redeveloping underutilized hydropower plants, providing affordable, clean energy to rural America’s most impactful organizations. The company is backed by Greenbacker Development Opportunities Fund I, LP. and Aegon Asset Management Real Assets.
For more information, visit www.RelevatePower.com.
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Silverline Communications
Claire Underwood
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