CALGARY, July 12, 2013 /CNW/ - Genalta Power Inc. ("Genalta Power")
announces the signing of a multi-year Power Purchase Agreement with
Harvest Operations Corp. ("Harvest") to convert clean fuel into
This project is powered by a simple cycle turbine generator that will
use onsite natural gas to generate electricity to mitigate operating
costs for Harvest at their Bellshill production complex.
The project is forecast to be commissioned in the second quarter of
2014. Electricity generated by the turbine will be sold to Harvest at
a discount to posted power prices. "We are very excited to add Harvest
to our growing client base and enter into a long term arrangement to
develop a clean fuel to electricity project for their Bellshill site"
said Andrew Lis, Genalta Power VP of Business Development, "we look
forward to a successful partnership."
This facility will be able to dispatch variably to capture only the most
profitable electricity prices. This system was specifically designed
for the Bellshill production complex to optimize the output and
significantly reduce operating costs which will enhance its
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. Visit www.genaltapower.com for more information.
Cautionary Statement Regarding Forward-Looking Information:
Certain statements in this news release may constitute "forward-looking
information" or "forward-looking statements" which involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the company or industry
results to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking
information. When used in this news release, such information uses such
words as "estimates", "expects", "plans", "anticipates" and other
similar terminology. This information reflects the company's current
expectations regarding future events, including the development,
construction and operation of greenhouse gas based projects and speaks
only as of the date of this news release. Forward-looking information
involves significant uncertainties, should not be read as a guarantee
of future performance or results, and will not necessarily be an
accurate indication of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially from
the results discussed in the forward-looking information. Although the
forward-looking information in this news release is based upon what
management of the company believes are reasonable assumptions, the
company cannot assure investors that actual results will be consistent
with this forward-looking information. This forward-looking information
is provided as of the date of this news release, and, subject to
applicable securities laws, the company assumes no obligation to update
or revise such information to reflect new events or circumstances.
SOURCE: Genalta Power Inc.
For further information:
Genalta Power Inc.
Vice President, Finance
Telephone: (403) 237-9740