American RE Subsidiary Boosts Hydro Capacity

March 2, 2004 [] Enel North America, Inc., the U.S. subsidiary of Enel SpA of Rome, Italy, has acquired controlling economic interests in two hydro plants in the United States, the 24 MW Twin Falls project near North Bend, Washington, and the 9.3 MW Lower Saranac project near Plattsburgh, New York. The acquisition of the two plants increases Enel North America’s controlling ownership of hydro capacity in North America by 14 percent. The company has provided operation, maintenance, and management services for both plants for more than 10 years. Enel North America, formerly CHI Energy, Inc., owns and operates a total of 418 MW of small hydro, wind power, and biomass generation in the United States and Canada. The company is the largest single owner of U.S. hydroelectric projects that are Qualifying Facilities (“QFs”) under the Public Utility Regulatory Policy Act (“PURPA”), with controlling interests in 61 such projects in 14 states, totalling 266 MW. It was acquired by Enel, Italy’s major electricity company and a world leader in renewable energy, in December, 2000.
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