A New York-based company is playing matchmaker between hydropower dam owners and indoor farming operations. The program, dubbed “TransFARMative” by Ultra Yield Solutions (UYS), is offering a lifeline to small hydropower facilities struggling with low wholesale electricity rates.
TransFARMative introduces hydropower owners with Controlled Environment Agriculture (CEA) practitioners seeking their next agricultural facility location. Hydropower owners get to lease a portion of their property, while also selling power to the indoor farmer above the wholesale rate, reducing rate volatility and increasing revenue. The opportunity is also a great deal for the indoor farmer if the electricity rate stays below the utility’s retail rate.
According to Chris Brown, CEO at UYS, “UYS’s TransFARMative program is actively matchmaking indoor farmers as tenants with hydropower owners.” Brown added, “This provides the dam owner leasing income and increased earnings from their hydropower.”
To facilitate the roll-out and scaling of the TransFARMative program UYS has created a collaboration of companies that add value to hydropower projects with solar power, energy storage, data center co-location to export excess heat to the indoor farm, engineering, construction, and funding sources.
The US Department of Energy reports over 1,200 active federally licensed hydropower dams across the nation, many of which could benefit from this innovative approach.
While the initial focus is on the Northeast United States, the program has the potential to expand nationwide, supporting the rapidly growing indoor farming industry.
Local hydropower dam owners interested in learning more about the TransFARMative program can by get more information by emailing Chris Brown at chrisb@ultrayieldsolutions.net.
