February 28, 2018
Boston, Massachusetts, February 20, 2018 – The Board of Directors of FFP New Hydro LLC announces that Paul D. Jacob has been appointed as CEO to succeed Ramya Swaminathan. Ms. Swaminathan announced her resignation as CEO, effective February 28, 2018, to pursue another venture in the energy space.
“Under Ramya’s leadership, Rye Development has solidified its position as the leading developer of new hydropower on existing dams in the United States and has advanced its initial portfolio of projects through a number of value inflection points. Ramya also led the company’s establishment of a pumped hydropower storage business and Rye Development is now a significant developer of pumped storage capacity. We thank her for her dedication to the company and wish her a lot of luck in her new venture,” said FFP New Hydro Board Member David Phillip.
“The Board has complete confidence in Paul as the new CEO: he has been an integral part of Rye’s success to date and will lead the company with expertise and determination,” Mr. Phillip continued.
About FFP New Hydro
FFP New Hydro LLC has a portfolio of 23 hydropower development projects all with FERC licenses on existing dams in PA, WV, OH, MS, KY, IN, and LA totaling over 260 MW. These projects are low impact run-of river hydropower development projects, which will, when constructed, provide clean, renewable power in their host communities for generations to come. FFP New Hydro LLC is also pursuing the development, with Grid America Holdings, an affiliate of National Grid, the Swan Lake North pumped hydro storage project.