VANCOUVER, July 30, 2012 /CNW/ - Run of River Power Inc., ("ROR" or the
"Company") (TSXV: ROR) together with its wholly-owned subsidiary Sea to
Sky Power Corporation, and Concord Green Energy are pleased to announce
that the 25 megawatt ("MW") Skookum Power Project (the "Project") has
received its Leave to Commence Construction - Part I from the BC
Ministry of Forests, Lands and Natural Resource Operations. Construction can now proceed for the general arrangements area of the
project. The License of Occupation associated with the Transmission
Line has also been received and construction will commence upon receipt
of the Leave to Commence Construction - Part 2.
The $92 million Project is located on Skookum Creek approximately 10
kilometres east of Squamish, BC. Once completed, the Project will
generate enough power to provide electricity for up to 8,400 homes and
will offset as much as 70,000 tonnes of carbon dioxide annually by
reducing BC's dependency upon imports of greenhouse gas emitting power
production. During the two year construction period the Project will
generate jobs and provide a significant boost to the local economy. An
Impact and Benefits Agreement has been signed with the Squamish First
Nation which will provide for revenue sharing and job opportunities.
Run of River Power President and CEO Rick Hopp remarked, "The Skookum
Creek Hydroelectric Project - Leave to Commence Construction - Part 1
marks one of the most significant major milestones for the Project.
This Project has been under development since 2007 and the culmination
of all the required approvals and authorizations means that we can now
begin construction. The Project, expected to be in production in early
2014, will provide considerable value for ROR shareholders and
significant economic benefits to the region".
About Run of River Power Inc.
ROR Power develops renewable, sustainable energy through its portfolio
of clean energy projects. The company helps diversify BC's energy mix
by providing a cleaner way to generate power and increasing the
security of BC's energy supply. ROR Power operates an Eco Logo©
certified hydroelectric power generation station at Brandywine Creek,
near Whistler, BC that provides green power for about 4,000 homes. With
a total development potential of approximately 400 MW, the company is
well positioned for profitable growth.
Statements in this release which describe Run of River Power Inc.'s
intentions, expectations or predictions, or which relate to matters
that are not historical facts are forward-looking statements. These
forward-looking statements involve unknown risks and uncertainties
which may cause the actual results, performances or achievements of Run
of River Power Inc. to be materially different from any future results,
performances or achievements expressed in or implied by such
forward-looking statements. Run of River Power Inc. may update or
revise any forward-looking statements, whether as a result of new
information, future events or changing market and business conditions
and will update such forward-looking statements as required pursuant to
applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy of accuracy of this release.
SOURCE: Run of River Power Inc.
For further information:
Richard W. Hopp
President and CEO