Gene McCracken, the executive director of the Lawrence County Economic Growth Council, said Free Flow Power is the third company that's expressed in interest in the Williams Dam, located about 25 miles south of Bloomington. He said his economic development group is thrilled by the project, which is expected to create 25 construction jobs and two permanent positions.
"It's green power, so it's really exciting that it's going to be able to put more electricity on the grid," McCracken said.
Feldman said the Williams Dam is well-placed because the company will only have to install about 300 feet of transmission lines to link into the nearby electrical grid. He said the company is in talks with potential buyers for the electricity the project will generate.
"We're moving full steam ahead, and looking forward to finding an entity interested in buying the offtake," he said.
Aside from installing four new turbines, the company will reinforce the existing powerhouse, modify that portion of the dam where water emerges after passing through the turbines and building a disabled-accessible fishing platform.
The Williams Dam project would join a handful of hydroelectric plants in Indiana, which has about five such water-powered sites.
Tristan Vance, director of the Indiana Office of Energy Development, said in a statement that hydroelectric power "is a small, but important part of any state's long-term energy policy."