Toronto Hydro Energy Services Inc. And WindShare announce Turbine Maintenance

TORONTO, April 23 /CNW/ - Toronto Hydro Energy Services Inc. and the WindShare Co-operative (WindShare) advise that maintenance on the wind turbine at the Exhibition Place site is scheduled to take place between April 25th and April 30th. The turbine's rotor and generator will be removed, serviced and re-installed with the aid of two large construction cranes. This scheduled maintenance will focus on replacing the main bearing of the turbine and updating the controls.

"The bearing change-out is intended to extend the Ex Place turbine's lifespan," explains Dianne Saxe, President of WindShare. "On behalf of our 400 community members, we're pleased that this technical maintenance will help continue the generation of clean renewable wind power in Toronto."

In 2002, Toronto Hydro Energy Services Inc., with WindShare, constructed Canada's first urban wind turbine. Situated on a busy commuter route and in a major cultural, business and tourist site in Toronto it has helped to raise awareness about the nature of wind power. In 2010, the wind turbine achieved:

  • A 94 per cent operating availability rate.
  • 1000 megaWatt-hours of electricity production, the equivalent of powering 200 homes with 100% "green" electricity.
  • A displacement of 380 Tonnes of CO2, the equivalent of taking 1,300 cars off the road or planting 30,000 trees each year.(1)

About WindShare

WindShare is an innovative, for-profit wind power co-operative, the first of its kind in Canada. WindShare develops locally owned wind power projects that are scaled to the size and characteristics of the host community. WindShare was the first development project by the TREC Renewable Energy Co-operative (trec.on.ca), a non-profit, environmental co-operative that develops community-owned renewable energy projects and educates Ontarians about renewable energy, energy conservation and the community power model. TREC will launch a community solar co-operative, 'SolarShare' in summer 2011.

About Toronto Hydro

Toronto Hydro Corporation is a holding company, which wholly-owns two principal subsidiaries:

  • Toronto Hydro-Electric System Limited - which distributes electricity and engages in Conservation and Demand Management ("CDM") activities; and
  • Toronto Hydro Energy Services Inc. - which provides street lighting services.

The principal business of the Corporation and its subsidiaries is the distribution of electricity by Toronto Hydro-Electric System Limited. Toronto Hydro-Electric System owns and operates an electricity distribution system, which delivers electricity to approximately 700,000 customers located in the City of Toronto. It is the largest municipal electricity distribution company in Canada and distributes approximately 19% of the electricity consumed in Ontario.

The information in these materials is based on information currently available to Toronto Hydro Corporation and its affiliates (together hereinafter referred to as "Toronto Hydro"), and is provided for information purposes only. Toronto Hydro does not warrant the accuracy, reliability, completeness or timeliness of the information and undertakes no obligation to revise or update these materials. Toronto Hydro (including its directors, officers, employees, agents and subcontractors) hereby waives any and all liability for damages of whatever kind and nature which may occur or be suffered as a result of the use of these materials or reliance on the information therein.

These materials may also contain forward-looking information within the meaning of applicable securities laws in Canada ("Forward-Looking Information"). The purpose of the Forward-Looking Information is to provide Toronto Hydro's expectations about future results of operations, performance, business prospects and opportunities and may not be appropriate for other purposes.

All Forward-Looking Information is given pursuant to the "safe harbour" provisions of applicable Canadian securities legislation. The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are often intended to identify Forward-Looking Information, although not all Forward-Looking Information contains these identifying words. The Forward-Looking Information reflects the current beliefs of, and is based on information currently available to, Toronto Hydro's management.

The Forward-Looking Information in these materials includes, but is not limited to, statements regarding Toronto Hydro's future results of operations, performance, business prospects and opportunities.

The statements that make up the Forward-Looking Information are based on assumptions that include, but are not limited to, the future course of the economy and financial markets, the receipt of applicable regulatory approvals and requested rate orders, the receipt of favourable judgments, the level of interest rates, Toronto Hydro's ability to borrow, and the fair market value of Toronto Hydro's investments.

The Forward-Looking Information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the Forward-Looking Information. The factors which could cause results or events to differ from current expectations include, but are not limited to, the timing and amount of future cash flows generated by Toronto Hydro's investments, market liquidity and the quality of the underlying assets and financial instruments, the timing and extent of changes in prevailing interest rates, inflation levels, legislative, judicial and regulatory developments that could affect revenues, and the results of borrowing efforts. Toronto Hydro cautions that the above list of factors is not exclusive.

All Forward-Looking Information in these materials is qualified in its entirety by the above cautionary statements and, except as required by law, Toronto Hydro undertakes no obligation to revise or update any Forward-Looking Information as a result of new information, future events or otherwise after the date hereof.

SOURCE Toronto Hydro Corporation

For further information:

Joyce McLean
Director, Strategic Issues
Toronto Hydro-Electric System Limited
D: 416 542 3047
C: 416 371-9909
jmclean@torontohydro.com 
        Rebecca Black
Black Current Marketing (TREC, WindShare, SolarShare)
+1 (416) 535-2586
reblacka@gmail.com


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