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Rye Development gets FERC approval to build 17-MW hydroelectric facility

Rye Development LLC announced April 3 that it has won FERC approval to build the 17-MW Allegheny 2 hydroelectric facility located on the U.S. Army Corps of Engineers' Allegheny No. 2 lock and dam in western Pennsylvania.

Rye Development and Riverfront 47 formed a partnership to develop the project, which will comprise a residential and mixed-use development, as well as the hydroelectric facility, with a local investment of $60 million. Construction is planned to begin in 2018, and the power plant is scheduled to come online in 2020. Upon completion, the facility will produce enough electricity to power more than 8,500 homes, according to a news release.

"Receiving this license is a major milestone in our plans to create clean energy and jobs in the region. We appreciate Riverfront 47 incorporating our facility into their plans and supporting our efforts," said Ramya Swaminathan, CEO of Rye Development.