GE and Plutonic Power Granted Extension on Due-Diligence Period for Dokie Wind Project Acquisition


Vancouver, BC---June 29, 2009--- GE Energy Financial Services and Plutonic Power Corporation have been granted a 14-day extension to July 20 of the due-diligence period in the partners' review of the purchase of the 300-megawatt Earthfirst Dokie Ridge Wind Project, located 1,100 kilometers northeast of Vancouver, near Chetwynd. The previous 45-day period for due-diligence would have ended on July 6. Provided that certain conditions are satisfied or waived by July 20, GE Energy Financial Services and Plutonic plan to complete the acquisition of the Dokie assets within a further 45-day period. Satisfaction or waiver of conditions to closing include but are not limited to consent of First Nations and other material stakeholders, assignments of material permits and contracts and receipt of regulatory approvals.

The project would represent GE Energy Financial Services' and Plutonic's first wind energy investment in Canada and an expansion of their relationship from hydroelectric power development into wind energy.

The Dokie Project consists of the fully permitted and partially built 144-megawatt Dokie Phase 1 project using Vestas 3-megawatt V-90 turbines, together with the rights to expand the project to 300 megawatts. As partners, GE and Plutonic would jointly provide equity and seek project debt to complete construction. Financial details, including the expected capital costs of the project and the amount of the equity and debt required, have not yet been finalized.

EarthFirst had previously obtained court-ordered protection from its creditors under Canada's Companies' Creditors Arrangement Act, and the Court of Queens Bench of Alberta, Judicial Centre of Calgary on Friday May 29, 2009 approved the proposed transactions involving the project. Subject to financial close, the partners anticipate resuming construction of the project this fall and completion in late 2010.


About GE Energy Financial Services
GE Energy Financial Services' experts invest globally with a long-term view, backed by the best of GE's technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world's most capital-intensive industries, energy. GE Energy Financial Services helps its customers and GE grow through new investments, strong partnerships and optimization of its more than US$22 billion in assets. In renewable energy, GE Energy Financial Services is growing its portfolio of
more than US$4 billion in assets in wind, solar, biomass, hydro and geothermal power. GE Energy Financial Services is based in Stamford, Connecticut. For more information, visit

About GE
GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at GE is Imagination at Work.

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 40 locations, not including the flagship $660 million, 196 MW East Toba River and Montrose Creek run-of-river hydro-electric project currently under construction, have the design capacity to generate enough energy to meet the annual needs of about 586,000 homes and create approximately 5,900 person years of employment. Once built, the Green Power Corridor(tm) could offset almost 4 million tons of CO2 emissions every year - the equivalent to taking as many as 760,000 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.


Andy Katell
GE Energy Financial Services
Office: 203-961-5773

Lisa May
Investor Relations
Office: 604-669-4999 ext 1034
Cell: 604-314-3362