Plutonic Power Corporation (PCC:TSXV) is pleased to
announce that it has submitted three projects into BC Hydro's F2006 Call
for Tender. These three projects are the East Toba River and Montrose
Creek Project, the Rainy River Project and the Emory Creek Project. The
total capacity of these projects is 217.5 MW, which will generate
enough electricity for approximately 80,000 homes. BC Hydro anticipates
awarding Energy Purchase Agreements (EPA's) in early August 2006.
The electricity industry and business environment in BC remains very
positive for Plutonic Power Corporation. Last month, BC Hydro announced
their 2006 Integrated Electricity Plan (IEP) for the province. The
plan notes that in each of the last five years, British Columbia has
been a net importer of electricity. Based on current demand forecasts,
the B.C. could be importing as much as 45 per cent of its electricity
from spot-trading markets in Alberta and the Pacific Northwest within 20
years, according to BC Hydro president Bob Elton.
British Columbia's electricity short fall, coupled with lofty
electricity prices in the Pacific Northwest over the past year, increase
the value of Plutonic's green energy projects.
High import prices combined with a supply shortfall has persuaded BC
Hydro to increase the size of their 2006 Call for Power from 1800 GW.h
to 2500 GW.h; the largest request for electricity procurement to date.
BC Hydro also recently stated that it will continue to issue Calls for
Power over the next two years to meet growing demand. Domestic
independent power producers such as Plutonic Power will play a large
role in filling the gap between supply and demand for years to come.
"All signals show that Plutonic Power is very well positioned to take
advantage of the tightening electricity market in the Pacific Northwest
as well as society's demand for cleaner energy alternatives." said
Donald McInnes, president of Plutonic Power. "Plutonic has 19
development projects with over 870 MW in total capacity, one of the
largest private electricity development portfolios in the province. As
electricity demand continues to grow, our business plan calls for the
development of green energy projects in a stepped approach over the next
Plutonic Power is an emerging energy producer in British Columbia. Its
proposed 19 projects have a design capacity of over 870 MW and the
potential to generate approximately 2900 GWh per annum of green energy,
enough energy to meet the annual energy needs of approximately 300,000
homes. Included in the 19 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 would be through one of the largest single
private sector green energy investments ever made in British Columbia
and would create over 2,400 person-years of employment.
Plutonic is committed to continuously work with First Nations,
stakeholder groups and local communities in the development of its run
of river projects.
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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