You could use a undershot waterwheel, and if it's a river with a strong flow, the torque would be available for gearing up to a higher speed to run a generator. there are losses in a gearing up setup but not as great as lifting the water 300'!
Usually water is lifted to a greater height for either flow irrigation, storage for higher pressure, or as a "battery" of energy for later generation. Some hydroelectric systems use their off peak power to pump water up to a reservoir for later use during high peak demands. Just think of it as a large battery ..
The equipment involved in piping both up and down has to be factored into the costs,and the overall power losses you'd incur would be FAR in excess of other losses from a waterwheel mounted genny and a good storage battery setup. and the latter would be cheaper, in my estimation.
I've built an undershot wheel on a dock attached to a genset that does quite a nice job. I used automotive timing belts and pulleys for the gearing. works fine in a wet situation.
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