VANCOUVER, BC - March 2, 2011 - Plutonic Power Corporation (TSX:
PCC) and GE Energy Financial Services, a unit of GE (NYSE: GE), have
achieved commercial operations at their second major renewable energy
project, British Columbia's largest wind farm, a major milestone in
their growth collaboration. The Dokie Wind project is now fully
operational, providing clean energy to BC Hydro under a 25-year
Electricity Purchase Agreement (EPA). Plutonic's and GE's Dokie General
Partnership has received confirmation from BC Hydro that the project
has achieved commercial operations as of February 16, 2011, thereby
meeting its guaranteed commercial operation date commitment under the
During 13 months of construction, GE and managing partner Plutonic
oversaw erection of 43 wind turbines, construction of an electric
substation, installation of seven kilometres of transmission lines, and
created more than 200 construction and permanent jobs to finish the
C$228 million project - Plutonic's and GE Energy Financial Services'
first Canadian wind farm. The project is located 1,100 kilometres
northeast of Vancouver near Chetwynd in the foothills of the Canadian
Rocky Mountains, an area with world-class wind speeds.
"The now fully operational Dokie Wind project represents an important
new growth platform for us and a significant milestone in the
Plutonic-GE partnership," said Donald McInnes, Vice-Chairman and CEO of
Plutonic Power. "We thank the West Moberly First Nations, Halfway River
First Nation, Saulteau First Nations and McLeod Lake Indian Band for
their collaboration, and gratefully acknowledge the dedication and
effort demonstrated by all the men and women involved in the
construction of the Dokie Wind farm."
The Dokie Wind project is capable of generating 320,000-340,000 MWh per
year - enough energy to power about 34,000 homes. The project helps
British Columbia reach its goal of meeting growing energy needs through
the development and use of clean or renewable electricity. In November
2010, the companies began operation of their East Toba River and
Montrose Creek project, British Columbia's largest run-of-river
hydroelectric power plant.
"By combining GE's experience as an energy investor and Plutonic's
development skills, and by consistently reaching out to impacted
stakeholders, we were able to turn a once-challenged project into what
is now British Columbia's largest operating wind farm," said Mark
Tonner, Managing Director and leader of Canada at GE Energy Financial
The Dokie General Partnership has met all of the precedent conditions
contained under the ecoEnergy Renewable Power program. Accordingly, the
Dokie General Partnership expects to receive the $10/MWh grant on all
energy sales starting February 9, 2011 for a ten year period.
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.
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 US$21 billion in assets. For more information, visit
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 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 http://www.ge.com.
Plutonic Power Corporation
Director, Investor Relations
GE Energy Financial Services
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