10.9.2019 / HYDROELECTRIC CORP. IS PLANING TO BUILD A 150 METER TALL POWERPLANT IN CHINA

Hydroelectric Corporation announce that the Company has signed a Memorandum of Understanding (MoU) with a world class yard in China, to build 11 powerplants which will provide clean and renewable electricity to millions of people. Each powerplant would generate up to 480MW and 4 TWh annually.

Based on the strategic positioning in China, Hydroelectric Corporation has also selected a turbine vendor close to the yard, and received firm quotes for the major portions of the equipment needed. Macivor Engineering INC has signed a EPC contract to deliver the topside, and Heerema or Saipem will most likely be the party installing the powerplants by using two barges.

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We use the opportunity to thank Pareto Offshore AS, as we used their offices in Oslo to negotiate the terms & conditions of the MoU together with representatives from CIMC Raffels. The MoU would not have seen the light of day if it had not been for all the effort put in by Theis Hauerberg, (Partner at Pareto Offshore AS).

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