TORONTO, Aug. 27 /CNW/ - SkyPower Corp., one of Canada's leading
renewable energy companies, applauds today's announcement that the Government
of Ontario has directed the Ontario Power Authority to procure an additional
2,000 MW of renewable power.
"The Ontario government has proven itself to be a global leader in
attracting new and sustainable sources of renewable electricity generation,"
said Kerry Adler, President and Chief Executive Officer of SkyPower. "This
announcement will greatly enhance the province's track record in developing
clean, renewable power."
The Government of Ontario has directed the Ontario Power Authority to
commence the process of procuring the first 500 megawatts of renewable power
by the end of 2007.
"SkyPower has a strong commitment to help Canada become a global
environmental leader by developing our vast natural renewable power
resources," said Adler. "We believe that the Government of Ontario recognizes
that wind and solar technologies can be a valuable component to addressing the
important issues of sustainable energy and climate change."
Since its inception in 2003, SkyPower has focused on developing wind and
solar power projects and has focused on a community-based development strategy
that aims to include the First Nations of Canada and local municipalities in
their renewable energy efforts.
SkyPower Corp. (www.skypower.com), a subsidiary of Lehman Brothers, is
Canada's leading independent renewable energy developer with interests in over
70 wind and solar projects at various stages of development across 12
provinces/states, representing more than 7,000 MW of potential capacity.
SkyPower's strategy involves bringing a portfolio of renewable energy projects
from exploration phase through to construction and commercial operation and is
focused on being the largest owner and operator of renewable energy parks
across Canada. In June 2007, SkyPower became a subsidiary of Lehman Brothers,
providing access to significant capital to finance its ongoing development
activity as well as providing a commitment from Lehman Brothers to provide
project equity for SkyPower's projects across Canada. SkyPower also has over
1,000MW of wind energy under development in India.
For further information:
For further information: Kerry Adler, SkyPower Corp., (416) 979-4625