Hydro Alternative Energy (HAE) has signed a memorandum of understanding (MOU) with the Mexican company Energreen, to develop off-shore hydrokinetic energy projects in Mexico.
The electric power generated from the hydro projects will be used for the internal consumption in the country. Energreen commercial director Carlos Diaz said the company is dedicated to renewable energy generation, and they consider HAE as a credible partner to jointly develop energy projects utilizing underwater currents.
“We believe Energreen’s experience in developing electric power generation projects will be instrumental in facilitating our and HAE’s joint project efforts in this regard,” added Diaz.
“Both companies have similar philosophies when it comes to understanding the renewable energy business, and we believe this will be key to the success of our joint efforts and projects.”
HAE president Enrique Pallares said, “When Luis Bernal, Co-CEO of HAE, and I went to Cancun and together with Carlos Diaz, Commercial Director of Energreen, visited the North Landfill clean energy power plant operated by Energreen, it became clear to us that Energreen was clearly the right group to team up and partner with in Mexico to study, develop and sell electricity to be produced by our Oceanus(TM) system, which is planned to harness energy from underwater ocean currents.”