For Immediate Release
Vancouver, BC - August 16, 2005 - Plutonic Power Corporation (PCC - TSXV) is pleased to announce that Land and Water British Columbia (LWBC) has accepted a Water Power Development Plan Application ("WPDP") for the Rainy River Project, located near Gibson's in Howe Sound, British Columbia. The WPDP has also been forwarded to all other Provincial and Federal Government Agencies involved in the permitting process.
The WPDP is a permit application document for the construction and operation of a 20 MW run of river hydroelectric power generation facility that is expected to generate 72 Gw.h per annum, enough energy to meet the annual electricity needs of over 7000 homes. A field trip by the various government permitting agencies to Rainy River was held on August 9.
The purpose of the WPDP is to provide LWBC, and other permitting agencies, with information that fully defines the project. Included in the document are the project definition, an impact assessment and an environmental management plan. The government review and decision process is expected to take approximately 6 months and, once complete, a decision will be made on the issuing of a Water Licence and Crown Land Tenure that would allow for the development of the project.
The WPDP for the Rainy River project can be found on Plutonic Power's website: www.plutonic.ca under the Rainy River Project section. The Rainy River Project will ultimately be constructed and operated through a development and facilitation agreement between Plutonic and Howe Sound Pulp and Paper Limited Partnership.
Plutonic Power is an emerging green energy producer in British Columbia. Its proposed 18 projects have a design capacity of over 850 MW and the potential to generate approximately 2800 GWh per annum of green energy, enough energy to meet the annual energy needs of a city of over 280,000 homes. Included in the 18 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor, at an estimated capital cost of over $1 billion, would be one of the largest ever single private sector energy investments ever made in British Columbia and would create over 2,470 person-years of employment.
Plutonic Power is currently preparing six of its development projects for BC Hydro's fall 2005 call for tender. Plutonic is committed to working with First Nations, stakeholder groups and local communities in the development of its run of river projects. The projects being readied for the call are the East Toba River, Montrose Creek, Rainy River, Ruby Creek, Emory Creek and Europa Creek projects. The design capacity of the six projects is 301.5 MW with expected annual energy generation of 1065 GW.h. Construction of the projects is estimated to take approximately 3 years and is expected to create 900 person years of employment.
On behalf of the Board of Directors
PLUTONIC POWER CORPORATION
Donald McInnes, President
For additional information please contact:
Office: 604-669-4999 ext 1034
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