CALGARY, Oct. 22 /CNW/ - Pristine Power Inc. and ENMAX Green Power Inc.
today announced that commercial operations have commenced at their second 5 MW
Energy Recovery Generation (ERG(R)) project at 150 Mile House, British
Columbia, under the terms of a 20-year electricity purchase agreement with BC
Hydro. This project follows the start of operations at the Savona ERG(R)
facility in August, 2008.
Like the Savona project, the 5 MW 150 Mile House ERG(R) project generates
electricity by capturing waste heat created by existing gas compressors on
Spectra Energy's main natural gas pipeline. Together the two projects will
produce approximately 10 MW of clean electricity (as defined in the B.C.
Government's Clean Electricity Guidelines), enough to power approximately
10,000 homes per year.
The Savona and 150 Mile House projects are owned by EnPower Green Energy
Generation Limited Partnership, a partnership jointly held by Pristine and
ENMAX Green Power Inc., a wholly owned subsidiary of ENMAX Corporation. The
total cost of the two projects is expected to be approximately $31.5 million,
consistent with initial budget estimates.
"The commencement of operations of the 150 Mile House ERG(R) project
demonstrates our ongoing ability to deliver projects on time and on budget,"
said Jeffry Myers, President and CEO of Pristine Power Inc. "We continue to
see opportunities for the application of this technology and are actively
developing ERG(R) projects to bid into the upcoming BC Hydro Clean Power Call
in November of this year."
"The start-up of the Savona and 150 Mile House ERG(R) projects represents
a key milestone for ENMAX in helping to bring new energy generation to B.C.,"
said David Rehn, Executive Vice President of Generation and Wholesale Energy
with ENMAX Corporation. "We look forward to continuing to work with Pristine
Power to bring additional energy generation to B.C.," added Mr. Rehn.
Pristine (TSX: PPX) is in the business of developing, owning and
operating independent power plants that produce and sell electricity and in
some cases, sell process steam to industrial users. Pristine capitalizes on
opportunities in the independent power market by actively pursuing the
development of dependable, cost-effective and environmentally responsible
power generation facilities utilizing technology with proven past performance.
Pristine pursues a mix of large gas-fired and bioenergy generation and
hydroelectric projects and smaller replicable waste heat recovery ERG(R) and
bioenergy projects. Pristine currently has two projects in operation, one
under construction, and one under contract and in advanced development.
Pristine is developing projects in Ontario, British Columbia and Alberta.
Visit www.pristinepower.ca for more information.
ENMAX Corporation, through its subsidiaries including ENMAX Energy
Corporation, provides electricity, natural gas and value-added services to
more than half a million customers. ENMAX Green Power Inc., a subsidiary of
ENMAX Energy Corporation, is one of Alberta's largest investors in renewable
energy with partial ownership of the McBride Lake Wind Farm and complete
ownership of the Taber and Kettles Hill Wind Farms. Based in B.C., Hydromax
Energy Ltd., a wholly owned subsidiary of ENMAX Green Power Inc., holds
several water licenses in B.C. at various stages of development. Visit
www.enmax.com for more information.
Cautionary Statement Regarding Forward Looking Information
Certain statements in this news release, including the company's ability
to successfully proceed with future ERG(R) projects, 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 and construction performance and speaks only as of the date of this
news release. Forward-looking information involves significant risks and
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.
For further information:
For further information: on this ERG(R) project or Pristine, please
contact either: Jeffry M. Myers, President and Chief Executive Officer,
Pristine Power, Telephone: (403) 444-5571; Geoffrey D. Krause, Chief Financial
Officer, Pristine Power, Telephone: (403) 444-6405