Canadian Hydro Developers, Inc.

Canadian Hydro Developers, Inc.

August 15, 2007 11:19 ET

Canadian Hydro Awarded Standard Offer Contracts for 18 MW of Wind Projects in Ontario

CALGARY, ALBERTA--(Marketwire - Aug. 15, 2007) - Canadian Hydro Developers, Inc. (TSX:KHD) ("Canadian Hydro" or the "Company") announced today that it has been awarded two, 20 year Standard Offer Contracts ("SOCs") from the Ontario Power Authority ("OPA") for the supply of 18 MW of electricity from two wind projects in Ontario. Under the contract, the Company will receive $110 per MWh for power generated. In addition, the Company expects to be eligible for the Government of Canada's ecoEnergy Renewable Initiative ("ERI") of $10 per MWh for 10 years. Under the SOC, Canadian Hydro will receive 50% of ERI. The electricity will come from two phases of the Royal Road Wind Project ("Royal Road") acquired by Canadian Hydro through the acquisition of Vector Wind Energy Inc. in December 2006.

Located in Prince Edward County, near Picton in eastern Ontario, approximately one kilometer off the shores of Lake Ontario, Royal Road will generate an aggregate estimated 47,300 MWh per year of renewable energy - enough to power approximately 4,700 average Ontario households. The anticipated capital cost of these projects is $40 million. Subject to regulatory approvals and financing, construction is expected to be complete by August 2010.

"Canadian Hydro is pleased to accept these long-term contracts from the Ontario Power Authority," said Ross Keating, President, Operations & Development, of Canadian Hydro. "This low-impact renewable energy initiative is further evidence of the substantial opportunities for green power development that exist in Ontario and the ability of our Company to pursue new projects to the benefit of all stakeholders."

Canadian Hydro is committed to Building a Sustainable Future®. The company is a developer, owner, and operator of 19 power generation facilities totaling net 265 MW of capacity in operation and has an additional 403 MW nearing construction. The renewable generation portfolio is diversified across three technologies (water, wind, and biomass) in the provinces of British Columbia, Alberta, 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: 132,853,723

Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events or the Company's future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect, "may", "will", "potential", "intend", "could", "might", "should", "believe" and similar expressions. These 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 statements. The Company believes that the expectations reflected in those forward looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

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

Contact Information