New Jersey, United States [RenewableEnergyWorld.com] Warrior Girl Corp. announced that it has signed a Letter of Intent to acquire 100% of American Hydro Energy Company’s stock in return for restricted shares of common stock of Warrior Girl. The company’s purchase of Hydro is subject to due diligence by both parties.
The U.S. Army Corps of Engineers estimates America’s undeveloped hydropower to be 580,000,000 kilowatts (kW). American Hydro is currently developing a large computer designed turbine to harness some of that power potential through the use of river current. The slow turning turbine will be submerged several feet under the surface of a river without the necessity of dams or diversions of river water.
The company plans to sell its hydropower into the electric grid using the Federa Public Utility Regulatory Policy Act of 1978 (PURPA). This law allows for the sale of up to 10 megawatts (MW) of power from each site at a rate set by each state’s Public Utility Commission (PUC). Existing power companies are required to purchase this energy by law. Projected cost to generate river flow hydropower will be approximately $0.0125 cents per kilowatt-hour, less than 10% of the average residential power rate in many states.
Correction: When this story was originally posted, RenewableEnergyWorld.com inadvertandly linked to American Hydro Corp. This was not accurate as American Hydro Energy, not American Hydro Corp. is set to be acquired by Warrior Girl. We regret the error.