Brookfield Renewable Power Inc.

Brookfield Renewable Power Inc.

March 11, 2010 17:04 ET

Brookfield Renewable Power Hydroelectric Project Selected for Electricity Purchase Agreement

TORONTO, ONTARIO--(Marketwire - March 11, 2010) - Brookfield Renewable Power Inc. today announced that it has been selected for a 40-year Electricity Purchase Agreement (EPA) for its Kokish River Hydroelectric Project located on the northeast coast of Vancouver Island in British Columbia. This EPA is a result of the BC Hydro 2008 Clean Power Call seeking new, renewable and cost-effective energy projects.

The Kokish River Hydroelectric Project is being developed by Kwagis Power, a limited partnership of the 'Namgis First Nation and Brookfield Renewable Power. The 45 megawatt run-of-river project is expected to generate approximately 185 gigawatt hours of clean, renewable energy annually – enough electricity to power approximately 15,000 homes – while providing significant local benefits. The project, which is still subject to environmental and other approvals, has a planned commercial operation date of 2014.

"We're very pleased to have been selected for this EPA and are excited to develop this project with our partners, the 'Namgis First Nation," said Richard Legault, President and CEO of Brookfield Renewable Power. "We look forward to working with our other stakeholders to make this project a reality, and to add to our renewable power operations in the province of British Columbia."

About Brookfield Renewable Power

Brookfield Renewable Power Inc., wholly-owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 165 generating facilities with over 4,100 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power's operations are primarily located in North America and Brazil. Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has more than US$100 billion of assets under management and is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on Euronext Amsterdam under the symbol BAMA. For more information, please visit Brookfield Renewable Power's website at and Brookfield Asset Management's website at

Cautionary Note on Forward-looking Information

Certain information regarding Brookfield Renewable Power contained herein may constitute forward-looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. The words "being", "expected" and "planned" which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking statements. Forward looking statements in this press release include statements regarding the development of the Kokish River Hydroelectric Project, the receipt of approvals, anticipated production, project benefits and timing of commercial operations. Although Brookfield Renewable Power believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, it can give no assurance that such expectations will prove to have been correct. The reader should not place undue reliance on forward looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Brookfield Renewable Power to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: project development risks; receipt of required approvals, the behaviour of financial markets including fluctuations in interest and exchange rates, risks of equipment failure and other risks and factors detailed from time to time in Brookfield Renewable Power's Annual Information Form filed with the securities regulators in Canada under the heading "Risk Factors". We caution that the foregoing list of important factors that may affect future results is not exhaustive. Except as required by law, Brookfield Renewable undertakes no obligation to publicly update or revise any forward looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Contact Information

  • Brookfield Renewable Power
    Zev Korman
    Director, Investor Relations & Communications
    (416) 359-1955