Sprott Power Corp. Announces Substantial Completion of the Amherst Project
TORONTO, April 16, 2012 /CNW/ - Sprott Power Corp. (TSX: SPZ) ("Sprott Power" or "the Company"), an owner, operator and developer of renewable energy projects, in conjunction with its partner, Firelight Infrastructure Partners L.P., is pleased to announce the substantial completion of its Amherst wind power project in Cumberland County, Nova Scotia. The first turbine was operational on March 26th and the last turbine will be operational this week. The project has already generated approximately 3 gigawatt hours of renewable electricity.
The Amherst I project will almost double the Company's annual gross capacity under management to 215 gigawatt hours. The 31.5 megawatt facility is expected to provide almost 100 gigawatt hours of renewable energy for Nova Scotia residents on an annual basis, which represents enough electricity to power 10,000 homes.
"This is an exciting time for Sprott Power as we complete our first internally developed and constructed project. The Sprott team delivered the Amherst project on time and on budget," said Jeff Jenner, President and CEO of Sprott Power. "The successful completion demonstrates the high level of performance of our staff along with the tremendous support that our construction partners provided."
"We would like to thank our landowners, the Government of Nova Scotia, the Municipality of Cumberland County, the Town of Amherst, Nova Scotia Power, and all the local businesses and residents for the support they provided us over the last year to make this project a success", added Don Bartlett, COO of Sprott Power.
About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company dedicated to the development, owning and operating of renewable energy projects. Through project development efforts, acquisitions, partnerships and joint ventures, Sprott Power provides its shareholders with income and growth from the renewable power generation sector of the energy industry.
About Firelight Infrastructure Partners L.P.
Firelight Infrastructure Partners is a Canadian partnership that invests in North American renewable energy projects including wind, hydro and solar. Firelight partners with experienced developers to provide the capital necessary to develop, construct and operate high quality renewable energy projects. For more information on Firelight, visit www.firelightlp.com.
Certain information contained in this press release may constitute "forward-looking information", which reflects the current expectations of Sprott Power. This information, such as statements concerning expected amounts of future electricity generation, among others, reflects Sprott Power's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information including, without limitation, the risks listed under the heading "Risk and Uncertainties" in the Annual Information Form of the Company dated March 26, 2012. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this release. Although forward-looking information contained in this release is based upon what Sprott Power believes to be reasonable assumptions, management cannot assure investors that actual results, performance or achievements will be consistent with this forward-looking information. The forward-looking information is made as of the date of this release and Sprott Power does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.For further information:
Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
The Equicom Group
416-815-0700 ext. 264