VANCOUVER, BC - November 23, 2010 - Plutonic Power Corporation
(TSX: PCC) and GE Energy Financial Services, a unit of GE (NYSE: GE),
announced today that their jointly owned Dokie Wind Project, British
Columbia's largest wind farm, has begun generating electricity.
GE Energy Financial Services and Plutonic acquired and resumed
construction of the project a year ago. Since then, the project's
engineering, procurement and construction contractor, Mortenson Canada
Corporation, has completed mechanical erection of all 48 wind turbine
structures. Nine turbines have to date completed final commissioning
testing and are available for operation. The substation and
transmission lines have also been commissioned and energized, allowing
for wind turbine commissioning.
The project, located 1,100 kilometres northeast of Vancouver near
Chetwynd, will sell energy generated during commissioning-prior to the
commercial operation date, or "COD" -to Powerex, a subsidiary of BC
"The start of energy generation at the Dokie Wind Project represents
Plutonic's and GE Energy Financial Services' first wind project in
Canada and a solid new growth platform for Plutonic in wind energy,"
said Donald McInnes, Vice-Chairman and CEO of Plutonic Power.
GE Energy Financial Services and Plutonic, through their jointly formed
Dokie General Partnership, announced the resumption of project
construction in December 2009. The $228 million project will generate
320,000-340,000 MWh/a and, in addition to the turbines, includes a
substation and seven kilometres of 230 kV transmission lines. The
project is expected to reach commercial operation by early 2011.
In addition to the Dokie Wind Project, GE and Plutonic also jointly
developed British Columbia's largest independent run-of-river hydro
project, the East Toba River and Montrose Creek hydroelectric project.
About GE Energy Financial Services
GE Energy Financial Services' experts invest globally across the capital
spectrum in essential, long-lived and capital-intensive energy assets
that meet the world's energy needs. In addition to capital, GE Energy
Financial Services offers the best of GE's technical know-how,
technology innovation, financial strength and rigorous risk management.
Based in Stamford, Connecticut, the GE business unit helps its customers
and GE grow through new investments, strong partnerships and
optimization of its $21 billion in assets. For more information, visit www.geenergyfinancialservices.com.
GE (NYSE: GE) is a diversified infrastructure, finance and media company
taking on the world's toughest challenges. From aircraft engines and
power generation to financial services, health care services and
solutions, and television programming, GE operates in more than 100
countries and employs about 300,000 people worldwide. For more
information, visit the company's Web site at www.ge.com.
About Plutonic Power Corporation
Plutonic Power identifies, develops and operates clean power projects in
a safe reliable and efficient manner. Plutonic Power strives to be a
Canadian-based leader in clean power. For more information, visit www.plutonic.ca.
GE Energy Financial Services
Plutonic Power Corporation
Director, Investor Relations
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