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MEDIA

Plutonic Power Successfully Applies for Three New Run-Of-River Hydroelectric Projects

08/13/2007


Project Highlights:
  • Three sites located in the Bute Inlet area at Gargoyle Creek, Coola Creek and Heakamie River
  • Total capacity potential of approximately 110 megawatts (MW)
  • Potential to generate approximately 320 gigawatt hours (GWh) of renewable energy annually

    Vancouver, BC, August 13, 2007 - Plutonic Power Corporation (PCC - TSX) is pleased to announce that it has successfully completed Stages 1 and 2 towards securing a Water License and Crown Land rights from the Integrated Land Management Bureau (Ministry of Agriculture and Lands) and the Water Stewardship Division (Ministry of the Environment), for the development of three run-of-river non-storage hydroelectric power projects to be located on Gargoyle Creek, Coola Creek and Heakamie River, near the headwaters of Bute Inlet, approximately 130 km north of Powell River, BC.

    These projects have a combined potential capacity of approximately 110 MW and could be expected to generate approximately 320 GWh of green energy per year, enough electricity to meet the needs of approximately 32,000 homes.

    "Plutonic Power continues to discover economically and environmentally viable projects in the Bute Inlet area that will assist in returning BC to a position of electricity self-sufficiency," said Donald McInnes, President of Plutonic Power. "Construction of transmission infrastructure as part of the vision of the Green Power Corridor will make these otherwise stranded projects feasible."

    These new projects bring the total number of proposed development projects in the company's portfolio to 34, including the Toba/Montrose Project, on which construction commenced in July.

    Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 34 development projects have a design capacity of approximately 1,700 MW with the potential to generate approximately 5,500 GWh per annum of green energy, enough energy to meet the annual needs of about 550,000 homes. Included in the 34 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 could create over 4,500 person years of construction employment.

    Plutonic is committed to becoming the pre-eminent supplier of green energy in British Columbia by working with First Nations, stakeholder groups and local communities in the development of all its run-of-river projects. This commitment will help British Columbia realize its goal of becoming electricity self-sufficient by 2016 and meet demand utilizing 90% clean generation sources.

    On behalf of the Board of Directors
    PLUTONIC POWER CORPORATION

    "signed"

    Donald McInnes, President

    For additional information please contact:
    Lisa May
    Investor Relations
    Office: 604-669-4999 ext 1034
    Cell: 604-314-3362
    lisa.may@plutonic.ca

    The TSX does not accept responsibility for the adequacy or accuracy of this release. Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.