Plutonic Power Corporation

Plutonic Power Corporation

November 18, 2009 07:00 ET

Plutonic Power Corporation Update: Progress on the 2008 BC Hydro Clean Power Call

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2009) - Plutonic Power Corporation (TSX:PCC) has received notification from BC Hydro that the Bute Inlet and Upper Toba Valley Projects continue to be under consideration in the 2008 Clean Power Call for Tender. In their notification, BC Hydro stated that they will commence discussions with an initial group of 13 projects and a further 34 before the end of November. Both the Bute Inlet and Upper Toba Valley Projects - proposed jointly with GE Energy Financial Services to BC Hydro in November 2008 - are listed in the second group. BC Hydro has advised that the intent of all discussions will be to successfully negotiate energy purchase agreements.

Further information can be found at the BC Hydro website as linked below.

About Plutonic Power Corporation

Plutonic Power's vision is to provide leadership and create a legacy through the development of renewable, reliable, clean energy projects. Its proposed Green Power Corridor TM, comprised of 42 generation facilities (including the 2 facilities being constructed by Toba Montrose General Partnership), could have the capacity to meet the annual energy needs of about 660,000 homes and offset more than 4.4 million tons of CO2 emissions every year - the equivalent of taking more than 850,000 cars off the road. Build out of the Green Power Corridor TM, including the current construction of the $660 million, 196 megawatt East Toba River and Montrose Creek run-of-river hydroelectric project, could create approximately 6,500 person-years of employment. Plutonic Power is committed to working in partnership with First Nations, stakeholder groups and local communities in the development of all of its projects. By developing its suite of projects, Plutonic Power will help British Columbia realize its goal of becoming electricity self-sufficient by 2016 utilizing 90% clean domestic generation sources, will create employment opportunities and will play a significant role in the fight against climate change.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

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