About National Resources Energy
NRE was created based on a vertically-integrated strategy to capitalize on the pressing void in the region’s existing energy infrastructure by relieving highly congested transmission corridors and enabling renewable energy project development. NRE is currently developing over a $10 billion portfolio consisting of 1,000 MW of hydro pumped storage and 5,000 MW of high-voltage direct current submarine transmission projects in New York and New England. Additionally, NRE has a very active development pipeline with an additional 2,000 MW of hydro pumped storage projects in advanced stages of negotiations.

 NRE has entered into four joint venture agreements with both Transmission Developers, Inc. (“TDI”) and Riverbank Power Corp (“RPC”). They bring energy market expertise, technical experience and financial backing from Blackrock. NRE believes that, together with its partners, it has put together a highly experienced team to manage the development phase through permitting and successful project financing.

NRE, in concert with TDI and RPC has put together a team of strategic partners, including advisors and independent consultants, as it implements its development and execution strategy with a risk management approach to effectively manage completion, operating and revenue risks transforming these projects into core infrastructure assets, providing stable long-term returns. Therefore, it intends to enter into fixed price turnkey EPC contracts with strong counter-parties to mitigate completion risks and enter into off-take revenue contracts with creditworthy counter-parties to facilitate project financing. Initial market assessment done by the independent consultants indicates that there is strong economic justification for the transmission and pumped storage assets.