Genalta Power to Develop Second 13.5 MW Clean Fuel to Electricity Project for Pengrowth Energy Corporation

CALGARY, Nov. 7, 2012 /CNW/ - Genalta Power Inc. announces the signing of a second 20 year power purchase agreement with Pengrowth Energy Corporation to convert clean fuel into electricity at their Carson Creek Gas Plant site.

This project is a simple cycle turbine-generator which will use on site clean fuel to dispatch and capture the most profitable electricity prices. This system was specifically designed for the Carson Creek Gas Plant and Oil Production operations to optimize the output and enhance its competitiveness by significantly reducing operating costs.

"We anticipate a successful long term arrangement with Pengrowth Energy Corporation at their Carson Creek Gas Plant." said Graham Illingworth, Genalta Power CEO, "We will convert clean fuel to electricity and assist Pengrowth in reducing the overall operating costs of this plant."

The forecasted commissioning is the end of September 2013 at which time we will sell the power back to Pengrowth Energy Corporation over a 20 year contract.

About Genalta Power

Genalta Power is a privately held Canadian corporation in the business of developing, owning and operating independent power plants that produce and sell environmentally-friendly electricity from waste and clean energy sources. Genalta capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities. Genalta pursues a mix of waste heat recovery, waste fuel gas, waste pressure and gas to power projects. Genalta is developing projects in strategic regions of North America with an emphasis on the oil and gas industry. Visit www.genaltapower.com for more information.

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SOURCE: Genalta Power Inc.

For further information:

Genalta Power Inc.

Drew Shaw

Vice President, Finance

Telephone: (403) 237-9740

dshaw@genaltapower.com