Hydro Alternative Energy has signed a contract with the Ecuadorian government to generate electricity via underwater ocean currents in the Galapagos Islands. The deal could be worth $25 million over 20 years, said Enrique Pallares, the company’s director of business development.
The start-up company hopes to prove its concept in the Galapagos Islands and then expand to other locations in Latin America and Africa. While other sources of renewable energy are debated with a pitfall being the unreliability, Pallares said, “Water is 100% predictable. Those currents will stop when the Earth stops turning.”
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