/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
Trading Symbol: FCE.UN
CALGARY, Nov. 9 /CNW/ - November 9, 2009 Fort Chicago Energy Partners L.P. ("Fort Chicago") announced today the commencement of commercial operations at its East Windsor Cogeneration Centre in Windsor, Ontario ("EWCC").
EWCC is an 84-megawatt cogeneration facility constructed at an estimated cost of $211 million (100%) on land adjacent to the Ford Powerhouse. In October, 2006, EWCC entered into a 20-year Combined Heat and Power Contact with the Ontario Power Authority to sell electricity to the Ontario power market. In addition, EWCC has entered into a five-year process steam supply agreement with Ford, renewable for one year terms to a maximum total term of 30 years.
Construction of the EWCC facility was prefunded in 2007 with a $179 million long-term project debt financing maturing in September, 2029 and equity contributions from owners. Fort Chicago holds a 50% interest in EWCC.
Mr. Stephen White, President and Chief Executive Officer of Fort Chicago stated "The East Windsor Cogeneration Centre is a significant addition to our portfolio of power assets. We are pleased that this facility will provide stable, long-term cashflow for our unitholders and evidences our ability to grow this segment of our business."
Fort Chicago is a publicly traded limited partnership based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Its Class A Units are listed on the TSX under the symbol FCE.UN. Fort Chicago is engaged in three principal businesses: a pipeline transportation business comprised of interests in two pipeline systems, the Alliance Pipeline and the Alberta Ethane Gathering System; an NGL extraction business which includes a significant interest in a world-class extraction facility near Chicago; and a power business with power facilities in Ontario, Colorado and California, district energy systems in Ontario and Prince Edward Island, and waste heat power facilities along the Alliance Pipeline. Fort Chicago and its businesses are also actively developing a number of greenfield investment opportunities that will be a key source of future growth, including LNG and pipeline facilities on the U.S. west coast, Alberta-based ethane and NGL extraction facilities, repowering and expansion opportunities at the California power facilities and Nova Scotia-based underground natural gas storage and pipeline facilities.
Class A Unit Ownership Restrictions
Fort Chicago is organized in accordance with the terms and conditions of a limited partnership agreement which provides that no Class A Units may be held by or transferred to, among other things, a person who is a "non-resident" of Canada, a person in which an interest would be a "tax shelter investment" or a partnership which is not a "Canadian partnership" for purposes of the Income Tax Act (Canada).
SOURCE Veresen Inc.
For further information: For further information: Stephen H. White, President and C.E.O., Fort Chicago Energy Partners L.P., Livingston Place, Suite 440, 222 - 3rd Avenue S.W., Calgary, AB, T2P 0B4, Phone: (403) 296-0140, Fax: (403) 213-3648, www.fortchicago.com