posted on Jun 10, 2008 04:42AM
Edit this title from the Fast Facts Section
08:00 EDT Tuesday, June 10, 2008
VANCOUVER, June 10 /CNW/ - Run of River Power Inc. (TSXV: ROR) ("Run of River") is pleased to announce that its wholly owned subsidiary Western Biomass Power Corp ("Western Biomass") has signed a definitive agreement ("Shareholder Agreement") with the Tsilhqot'in National Government ("TNG"), (Collectively the "Parties"), to form the Tsilhqot'in Power Corporation ("TCP").
Western Biomass, working together with the TNG, have completed a detailed engineering study as well as a fiber supply analysis for their proposed 50 MW Tsilhqot'in Power Project, located approximately 70 kilometers west of Williams Lake.
TCP submitted details of its proposal to BC Hydro's Phase 1, Bio Energy Call for Power today - a short list of proposals is expected in early July followed by contract awards mid October. In the event that TCP is awarded an EPA, construction could start in early 2010. The plant would be capable of generating approximately 420,000 megawatt hours of firm energy - electricity to supply approximately 42,000 homes. Western Biomass expects to submit further proposals to the second phase of BC Hydro's Phase 2, Bio Energy Call for Power expected in October of this year.
Jako Krushnisky, President of Run of River Power stated, "Working together, Western Biomass and the TNG have demonstrated a unique and healthy collaboration, that has resulted in the signing of this agreement, and has moved the parties closer to their goal of bringing this project to fruition."
About Run of River Power Inc.
Run of River is a British Columbia corporation, committed to economically, environmentally and socially responsible energy solutions. The corporation operates an Eco Logo(C) certified hydroelectric power generation station at Brandywine Creek, near Whistler, BC and sells the power to BC Hydro on a long-term 20 year contract.
Run of River is currently developing hydroelectric projects located in several clusters, totaling over 430 MW of capacity as well as two biomass projects totaling 80 MW of base load capacity. With over 500 MW of renewable energy at various stages of development, the corporation is positioned to provide green, renewable electricity to over 200,000 British Columbia homes, while meeting the province's goals of energy self sufficiency and greenhouse gas reduction.
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.
For further information: Jako Krushnisky, President & CEO or Vick Dusik, CFO, (604) 946-9232
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