Canadian Hydro Developers, Inc.
TSX : KHD

Canadian Hydro Developers, Inc.

September 10, 2009 11:00 ET

Canadian Hydro Developers, Inc.: Ministers Smitherman and Gerretsen Attend Official Opening of Canada's Second Largest Wind Facility

CALGARY, ALBERTA--(Marketwire - Sept. 10, 2009) - Ontario Ministers George Smitherman and John Gerretsen today officially opened the Wolfe Island EcoPower® Centre, owned and operated by Canadian Hydro Developers, Inc. (TSX:KHD) Construction began on Wolfe Island in summer 2008 and the facility achieved commercial operation on June 26, 2009. With a nameplate capacity of 197.8 MW, the Wolfe Island EcoPower® Centre is the second largest wind facility of its kind in Canada. In addition, the facility will receive $10 per megawatt hour for 10 years under the Government of Canada's ecoENERGY for Renewable Power program.

"By investing in the Wolfe Island EcoPower® Centre, the Government of Canada is re-affirming our commitment to building a strong, domestic clean energy industry," said Gord Brown, Member of Parliament for Leeds-Grenville on behalf of the Honourable Lisa Raitt, Minister of Natural Resources. "Working with companies such as Canadian Hydro Developers, Inc., we're generating new economic stimulus and creating jobs while ensuring that Ontarians have access to clean, renewable electricity at competitive prices."

Located near Kingston, Ontario, the Wolfe Island EcoPower® Centre is expected to generate approximately 594 GWh of renewable energy annually. The facility has a 20-year Renewable Energy Supply II Contract with the Ontario Power Authority for the purchase of electricity and Renewable Energy Certificates.

"Ontario has become Canada's leader in wind capacity because of innovative policies that encourage developers to bring on new sources of clean power and create green economy jobs," said George Smitherman, Deputy Premier and Minister of Energy and Infrastructure. "The Green Energy Act builds on this foundation and will provide fresh opportunities for more people to participate in shaping the future of our electricity system."

Wolfe Island's commercial operation officially pushed Ontario past the 1,000 MW installed threshold of new wind energy brought on-line since October 2003. Approximately 40% of renewable energy generated in Ontario is provided by Canadian Hydro.

"This project is a major accomplishment and an important contributor to Kingston's efforts to become one of Canada's most sustainable communities," said Environment Minister John Gerretsen. "Clean and renewable sources of energy like the Wolfe Island wind project are an integral part of our climate change action plan."

The Wolfe Island EcoPower® Centre is expected to generate an estimated $3 million annually in reliable family farm and community income through royalties, taxes, a township amenities agreement plus operating and maintenance expenses. Currently, eight permanent skilled jobs have been created at the facility, allowing employees to raise their families on Wolfe Island or in the local area.

"We are extremely pleased to have the opportunity to share this great achievement with the community of Wolfe Island, and look forward to being a part of the community for many generations to come," said Kent Brown, Chief Executive Officer. "The successful completion and now operation of this world-class facility demonstrates the value of building and maintaining strong relationships."

About Canadian Hydro

"Recognized as one of Jantzi/Maclean's Top 50 Responsible Corporations in Canada"

Canadian Hydro is committed to Building a Sustainable Future®. The Company is the largest and most diversified developer, owner, and operator of 21 renewable energy generation facilities in Canada totaling net 694 MW of capacity in operation, 185 MW in and nearing construction, and 1,624 MW in development. The renewable generation portfolio is diversified across three technologies (water, wind, and biomass) in the provinces of Alberta, British Columbia, Ontario, and Quebec. This portfolio is unique in Canada as all facilities are certified, or slated for certification, under Environment Canada's EcoLogo(M) Program.

The Toronto Stock Exchange has neither reviewed nor approved this news release.

Contact Information

  • Canadian Hydro Developers, Inc.
    Media Relations
    Lindsey Moen, Communications Coordinator
    (403) 510-4631
    Email: LMoen@canhydro.com
    or
    Canadian Hydro Developers, Inc.
    Investor Relations
    Kathy Boutin, Chief Financial Officer
    (403) 298-0256
    Email: KBoutin@canhydro.com
    Website: www.canhydro.com