Canadian Hydro Developers, Inc.
TSX : KHD

Canadian Hydro Developers, Inc.

November 28, 2008 11:06 ET

Canadian Hydro's Melancthon EcoPower® Centre Achieves Full Commercial Operations

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) - Canadian Hydro Developers, Inc. (Canadian Hydro or the Company) (TSX:KHD) announced today that the $285 million, 132 MW Melancthon II Wind Project (Melancthon II) achieved commercial operations on November 24, 2008, ahead of schedule and on budget. Melancthon II is the second phase of the Melancthon EcoPower® Centre. The first 67.5 MW phase achieved commercial operations on March 4, 2006.

The Melancthon EcoPower® Centre is located in Melancthon and Amaranth Townships, near Shelburne, Ontario, two hours northwest of Toronto and is 100% owned and operated by Canadian Hydro. All of the electricity and environmental attributes are sold to the Ontario Power Authority under two, 20-year Renewable Energy Supply contracts. Annual average long-term generation from the EcoPower® Centre is expected to be 545 GWh, enough to power approximately 70,000 average homes.

"Achieving commercial operations of Canada's largest wind installation at 199.5 MW is a significant milestone for both Canadian Hydro and our industry." said John Keating, Chief Executive Officer. "The Melancthon EcoPower® Centre is one of two renewable energy projects that will double the size of Canadian Hydro in the coming months. The transformation of our Company to one that can self-finance the equity portion of increasingly significant projects beyond our current $1.3 billion construction program, positions Canadian Hydro extremely well in these uncertain times. We'd like to thank our employees, stakeholders, and supporters for making this project a success and supporting our commitment to Building a Sustainable Future®."

"Ontario is Canada's wind power leader and this wouldn't be possible without companies like Canadian Hydro Developers, Inc. and host communities willing to become active partners in the vision of a cleaner, greener future for our province," said George Smitherman, Deputy Premier and Minister of Energy and Infrastructure. "Local residents get a new source of revenue from their land and Ontario gets a fresh supply of non-polluting power."

Canadian Hydro Developers, Inc. is committed to Building a Sustainable Future®. The Company is the largest and most diversified developer, owner, and operator of 20 power generation facilities in Canada totaling net 496 MW of capacity in operation, 385 MW in and nearing construction, and 1,632 MW in development. The renewable generation portfolio is diversified across three technologies (water, wind, and biomass) in the provinces of British Columbia, Alberta, Ontario, and Quebec. This portfolio is unique in Canada as all facilities are certified under Environment Canada's EcoLogo(M) Program.

Common shares outstanding: 143,611,223

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 expected annual generation of the Melancthon EcoPower® Centre; and (ii) 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) treatments under governmental regulatory regimes and tax, environmental and other laws; and (vi) the timing of the delivery of power generation assets under construction contracts.

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 revised 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 news release.

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