Under the project work, the consortium will install turbines at the reservoir’s existing dam on the Des Moines River in south-central Iowa, according to The Associated Press.
Missouri River Energy Services chief executive officer Tom Heller was quoted by The Des Moines Register as saying that the organization has already ordered for turbines for the project.
"There are going to be a lot of construction jobs when this plant is built," Heller added.
Construction work on the plant is expected to begin in the first quarter of 2014 and the plant is anticipated to become operational in late 2016.
Upon completion, the hydroelectric plant is likely to generate enough electricity to power about 18,000 homes.
