Voith Hydro Secures Contract for Red Rock Hydroelectric Facility - reliable and affordable energy for peak demand
"We are very much looking forward to working with Missouri River Energy Services and Western Minnesota Municipal Power Agency on the Red Rock Hydroelectric Project," Voith Hydro President and CEO Kevin Frank said. "This is an exciting project that will provide MRES customers in the upper Midwest with clean and efficient hydroelectric power. The economic benefits, both through the increased power generation and the direct and indirect jobs during and after construction of the facility, will be significant."
Project construction will begin in 2013 with an expected completion date and commercial operation in 2016. Red Rock will supply dispatchable generation, meaning the electricity can be turned off or on by its operators in order to meet electrical demand.
Potential for development of affordable and carbon neutral energy supply in the U.S.
A study conducted by the National Hydropower Association examining the hydropower industry's capacity growth potential. The results demonstrate the industry's extraordinary potential to expand its contribution to the country's energy, environmental, and economic goals: till 2025 hydropower can add 60,000 megawatts of affordable, domestic, renewable energy and over 1 million new jobs.
About the Company
Voith Hydro is a Group Division of Voith and - with a workforce of approx. 5,300 employees and a sales volume of more than 1.2 billion Euros in the business year 2010/2011 - belongs to the world-wide leading companies for hydro power equipment.
Voith sets the standards in the markets energy, oil & gas, paper, raw materials and transportation & automotive. Founded in 1867, Voith employs more than 40,000 people, generates €5.6 billion in sales, operates in more than 50 countries around the world and is today one of the biggest family-owned companies in Europe.
The importance of Hydro Power
Hydro power is the largest, oldest and most reliable form of renewable energy generation. Worldwide, it makes an indispensable contribution to stable power supplies and hence to economic and social development - both in industrial countries and in emerging markets. Hydro power also makes a significant contribution to climate-protecting energy production. Voith has been a leading supplier of this technology from the early beginning and continuously develops it further.