Brazilian Resources of New Hampshire, US has formed a strategic alliance with Duke Engineering Services, a subsidiary of North Carolina-based Duke Power, for the development of up to 30MW capacity hydroelectric projects.

Brazilian Resources has raised US$800,000, brokered by David Williamson Associates of the UK, to fund the initial stage of design, development and feasibility studies.

The completion of the feasibility studies will provide the documentation necessary to complete debt financing of US$75M, to be used primarily to acquire and develop the small hydroelectric assets.