TSX : SXI
VANCOUVER, Feb. 3, 2012 /CNW/ - Synex International Inc. (the "Company") announces that the commissioning of the 4.4MW Barr Creek Hydroelectric Plant (the "Plant") is complete and the Plant is now delivering electricity commercially to BC Hydro and Power Authority ("BC Hydro").
The Plant is located about 10 km south of the Village of Zeballos on Vancouver Island, British Columbia, and is delivering electricity under a 40 year electricity purchase agreement between Barr Creek Limited Partnership ("BCLP") and BC Hydro.
The limited partners in BCLP are Synex Energy Resources Ltd. ("Synex"), a wholly owned subsidiary of the Company and the Ehattesaht Tribe (the "Ehattesaht"). The general partner of BCLP is Barr Creek Hydro Ltd. ("BCHL"). Synex holds 80% of the units of BCLP and shares of BCHL and the Ehattesaht hold 20 % of BCLP and BCHL respectively.
Synex International Inc is an experienced run of river hydroelectric developer and consultant in British Columbia with over 15 professionals located in the Vancouver office. The Company wholly owns or has interests in 12 MW of operating facilities and has applications for water licences and land tenure on over 70 potential hydroelectric sites which are in various stages of development.
Greg Sunell, President
This press release contains forward-looking statements that involve risks and uncertainties. These statements reflect our current expectations and are subject to change. They are subject to a number of risks and uncertainties including, but not limited to, changes in economic conditions, risks associated with the construction and operation of hydroelectric facilities and changes in government policies.
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