Econergy International, has just finalised the purchase of of a 50% stake in two hydropower stations in Bolivia from Duke Energy International.

Econergy sees itself as a carbon credit generation firm. So they've got to be pleased about this. Hydropower, after all, after the enormous amounts of cement to build the dams, operates and creates vast amounts of carbon-free electricity.

Let's take a closer look at the price too - $20 million for a 50% stake 147 MW. That works out at $242,000 for each of the 73.5 megawatts. I have to say, that looks very cheap. Building a hydro plant from scratch today would typically cost $3 million per installed megawatt. Could the world's hydro assets be substantially undervalued?

On the face of it, Econergy appears to have closed a good deal.