Canadian Hydro Developers, Inc.
TSX : KHD

Canadian Hydro Developers, Inc.

December 19, 2007 09:30 ET

Canadian Hydro Updates Status of Manitoba Hydro RFP Process

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2007) - Canadian Hydro Developers, Inc. ("Canadian Hydro" or the "Company") (TSX:KHD) announced today that Canadian Hydro was not selected for the next stage in Manitoba Hydro's Request for Proposal ("RFP") process to develop and supply up to 300 MW of wind-generated energy to Manitoba Hydro.

In July 2007, Canadian Hydro submitted three bids to the RFP for projects ranging in size from 99 MW to 300 MW. The Company will continue to develop its 1,000 MW of wind prospects in Manitoba and anticipates submitting bids for future RFPs for up to an additional 600 MW of wind projects that have been previously announced by Manitoba Hydro. Regulatory approvals, long-term power sales contracts, and financing are required prior to proceeding with these prospects.

"While we are disappointed that we are not proceeding to the next stage, we acknowledge and accept the competitive results of a fair process," said John Keating, CEO of Canadian Hydro. "We continue to be committed to developing our wind prospects in Manitoba on a basis that creates value for our shareholders and look forward to the future calls for wind power by Manitoba Hydro."

Canadian Hydro is committed to Building a Sustainable Future®. The Company is a developer, owner, and operator of 20 power generation facilities totalling net 364 MW of capacity in operation and has an additional 473 MW nearing construction. The renewable generation portfolio is diversified across three technologies (water, wind, and biomass) in the provinces of British Columbia, Alberta, Quebec and Ontario. This portfolio is unique in Canada as all facilities are certified, or slated for certification, under Environment Canada's EcoLogo(M) Program.

Common shares outstanding: 141,834,973

Advisory Respecting Forward-Looking Statements:

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: (i) the development of wind prospects in Manitoba for future calls for wind power by Manitoba Hydro; (ii) the ability to obtain regulatory approvals, long-term power sales contracts, and financing for wind prospects in Manitoba; and (iii) other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.

The forward-looking information and statements contained in this news release reflect several material factors, expectations and assumptions including, without limitation: (i) commodity prices, foreign currency exchange rates and interest rates; (ii) supply and demand for electricity; (iii) schedules and timing of certain projects and the Company's strategy for growth; (iv) the Company's future operating and financial results; (v) treatment under governmental regulatory regimes and tax, environmental and other laws; (vi) the timing of the delivery of power generation assets under construction contracts; and (vii) the Company's future prospects in Manitoba with respect to its wind prospects.

The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.

The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

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

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