Vancouver, BC - April 7, 2009 - Plutonic Power Corporation's
(TSX: PCC) subsidiary Upper Toba Hydro Inc. is pleased to announce that
it has been granted a Provincial Environmental Assessment (EA)
Certificate from the Ministry of Environment and Ministry of Energy,
Mines and Petroleum Resources for the Upper Toba Valley Hydroelectric
Project. The Project is comprised of three run-of-river facilities
respectively located on the Upper Toba River, Jimmie Creek and Dalgleish
Creek, all of which are in the Toba Valley 150 kilometers north of
Powell River, BC.
The granting of the Certificate represents a successful conclusion to a
comprehensive environmental assessment process that has involved
significant consultation with government agencies, public stakeholders
and the Klahoose First Nation. The Project will result in a relatively
small footprint by leveraging the existing infrastructure and utilizing
the same transmission line for the196 MW East Toba River Montrose Creek
project, which is currently under construction in the Toba Valley by
Plutonic Power and its investment partner GE Energy Financial Services.
"The Upper Toba Valley Project will provide green employment
opportunities during the construction phase and further significant
local purchasing and community benefit for the Sunshine Coast area,
building on the relationships we have already established for the Toba
Montrose Project, while helping address the bigger issue of climate
change," said Plutonic Power Vice-Chair and CEO Donald McInnes.
The Upper Toba Valley Project was jointly bid by Plutonic Power
Corporation and GE Energy Financial Services into BC Hydro's 2008 Call
for Power in November 2008 and has the capacity to generate up to 166 MW
of green energy.
Plutonic Power has received a letter of support from the Klahoose First
Nation on whose traditional territory the project is located. Plutonic
and the Klahoose are working towards finalizing an Impact and Benefit
Agreement for the project.
McInnes added: "Plutonic Power is now in a position to work towards
finalizing the necessary provincial and federal permits and
authorizations required to move into the construction phase of the
project, if we are successful in securing an electricity purchase
agreement with BC Hydro."
The provincial EA certificate contains 52 commitments Plutonic must
implement throughout various stages of the project. Key commitments
include the following:
More information on the Environmental Certificate can be found at www.eao.gov.bc.ca.
- Maintaining sufficient in-stream flows to protect fish and fish habitat.
- Avoiding breeding birds, nesting habitats and mountain goat winter habitat.
- Developing a grizzly bear monitoring plan to the satisfaction of the Ministry of Environment.
- Developing mitigation, compensation and monitoring plans in consultation with regulatory agencies.
About Plutonic Power Corporation
Plutonic Power's vision is to provide leadership and create a legacy
through the development of renewable, reliable, clean energy. Its
proposed Green Power Corridor(tm), comprised of 35 locations, not
including the flagship $660 million, 196 MW East Toba River/Montrose
Creek run-of-river project currently under construction, have the design
capacity to generate enough energy to meet the annual needs of about
630,000 homes and create approximately 5,500 person years of employment.
Once built, the Green Power Corridor(tm) could offset an estimated 4
million tons of CO2 emissions every year - the equivalent to taking as
many as 650,000 vehicles off the road. Plutonic Power is committed to
working in partnership with First Nations, stakeholder groups and local
communities in the development of all of its run-of-river projects. By
developing its suite of projects, Plutonic Power will help British
Columbia realize its goals of becoming electricity self-sufficient by
2016, utilizing 90% clean domestic generation sources will create
employment opportunities and will play a significant role in the fight
against climate change.
For additional information please contact:
Office: 604-669-4999 ext 1034