VANCOUVER, June 15, 2009 /CNW/ - The city council of Williams Lake, BC
has endorsed the development of a 60 MW biomass power project by a
joint-venture subsidiary of Run of River Power Inc. ("ROR Power" or "the
Company") (TSX-V: ROR).
The project is being jointly spearheaded by ROR Power's 100%-owned
subsidiary, Western Biomass Power Corp., and the Tsilhqot'in National
Government. The Williams Lake endorsement came in the form of a letter of
support approved at the most recent meeting of council. The measure had been
previously discussed with the joint-venture partners and it comes as the
project is being considered for submission under the anticipated Phase Two of
BC Hydro's Bioenergy Call. The plant, to be located in nearby Hanceville, will
generate electricity by utilizing trees damaged by the mountain pine beetle
infestation plus local organic logging and mill waste.
"This initiative is an innovative and productive utilization of wood
fibre that would result in significant social, environmental and economic
benefits,"said Mayor Kerry Cook. "The City of Williams Lake supports the
sustainable approach to community development for the betterment of the region
and the province."
"We greatly appreciate this show of support from Williams Lake," said
Jako Krushnisky, President and CEO of ROR Power. "We believe our joint venture
will benefit the local economy by providing substantial investment capital and
The joint venture proposal includes construction of the $250-million
power plant plus $40 million for a new 230 KV transmission line. The projects
are estimated to create 167 full-time jobs during construction and 89
permanent jobs in full operation.
About Run of River Power Inc.
ROR Power develops renewable, sustainable energy through its portfolio of
run-of-river and biomass projects in British Columbia (BC). The company
operates an Eco Logo(C) certified hydroelectric power generation station at
Brandywine Creek, near Whistler, BC that generates cash flow under a 20-year
contract with BC Hydro. ROR Power is well positioned for profitable growth
through the company's high-quality power generation initiatives. ROR Power's
total development potential, in excess of 740 MW, represents a significant
opportunity to help BC meet its rising demand for clean, sustainable power and
achieve energy self sufficiency by 2016.
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 laws. The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this press release.
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 or accuracy of this release.
For further information:
For further information: Jako Krushnisky, President and CEO, Run of
River Power Inc., Tel: (604) 946-9232, firstname.lastname@example.org; Vick Dusik,
Chief Financial Officer, Run of River Power Inc., Tel: (604) 946-9232,