Throne Speech and Budget reaffirm industry as good for economy, job creation and long-term growth
Vancouver, BC -- February 17, 2009 Plutonic Power Corporation
(PCC:TSX) is applauding the clear support for BC's independent power
production industry outlined in yesterday's Provincial Throne Speech and
affirmed today in the Provincial budget. The Government has provided a
clear direction of the intention for BC to be a "global leader in wind,
run-of-river, tidal, geothermal, wave, solar and other forms of clean,
"The Throne Speech and budget solidify the valued role that clean
renewable power production plays as a catalyst for economic stimulus,
job creation, critical infrastructure development and distributed rural
benefits," said Plutonic Power's Vice-Chair and CEO, Donald McInnes.
"This support is crucial as we plan ahead to address the needs created
by population growth, new energy-intensive technologies and our
commitment to permanent reduction of greenhouse gas emissions."
Reaffirmation of the Province's commitment to be self-sufficient in
electricity by 2016 and a reference to B.C as a "low-carbon" energy
powerhouse were included in the Throne Speech, as was an outline of BC's
competitive advantage in developing a new green economy. A major
expansion in transmission capacity and an expanded transmission plan to
encourage small scale power projects was also committed to be complete
by the end of 2009.
"This is a very responsible budget that will carry us through these
tough economic times," added McInnes. "For the budgets of key Ministries
like Energy, Mines and Petroleum Resources to be maintained bodes well
for future growth of our industry and our province and assists us in
being able to help meet goals of self-sufficiency and building a legacy
of green energy for BC."
To view a full PDF copy of the 2009 Throne Speech and details on the 2009 Budget visit the Government of BC's website: http://www.gov.bc.ca/premier/2009_throne_speech/index.html
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 39 facilities, 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 is committed to working
in partnership with First Nations, stakeholder groups and local
communities in the development of all its run-of-river projects. By
developing its suite of projects, Plutonic Power will help British
Columbia realize its goal of becoming electricity self-sufficient by
2016, meet demand utilizing 90% clean domestic generation sources and
will play a significant role in the fight against climate change.
For additional information please contact:
Office: 604-669-4999 ext 1034