Vancouver, BC - November 18, 2009 - Plutonic Power Corporation
(PCC: TSX) has received notification from BC Hydro that the Bute Inlet
and Upper Toba Valley Projects continue to be under consideration in the
2008 Clean Power Call for Tender. In their notification, BC Hydro
stated that they will commence discussions with an initial group of 13
projects and a further 34 before the end of November. Both the Bute
Inlet and Upper Toba Valley Projects - proposed jointly with GE Energy
Financial Services to BC Hydro in November 2008 - are listed in the
second group. BC Hydro has advised that the intent of all discussions
will be to successfully negotiate energy purchase agreements.
Further information can be found at the BC Hydro website as linked below.
About Plutonic Power Corporation
Plutonic Power's vision is to provide leadership and create a legacy
through the development of renewable, reliable, clean energy projects.
Its proposed Green Power Corridor TM, comprised of 42
generation facilities (including the 2 facilities being constructed by
Toba Montrose General Partnership), could have the capacity to meet the
annual energy needs of about 660,000 homes and offset more than 4.4
million tons of CO2 emissions every year - the equivalent of taking more than 850,000 cars off the road. Build out of the Green Power Corridor TM,
including the current construction of the $660 million, 196 megawatt
East Toba River and Montrose Creek run-of-river hydroelectric project,
could create approximately 6,500 person-years of employment. Plutonic
Power is committed to working in partnership with First Nations,
stakeholder groups and local communities in the development of all of
its projects. By developing its suite of projects, Plutonic Power will
help British Columbia realize its goal 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 1047
Office: 604-669-4999 ext 1034
The TSX Exchange 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.