Canadian Hydro Developers, Inc.

Canadian Hydro Developers, Inc.

June 16, 2009 14:54 ET

Canadian Hydro Named Among Canada's Top 50 Most Socially Responsible Corporations

CALGARY, ALBERTA--(Marketwire - June 16, 2009) - Canada's largest and most diversified renewable energy company, Canadian Hydro Developers, Inc. (TSX:KHD), was named one of Canada's top 50 most socially responsible corporations by Jantzi Research Inc., an independent investment research firm, and Maclean's Magazine.

"We are extremely pleased to be recognized in this manner," says Kent Brown, Executive Vice President & Chief Financial Officer. "Our business has always been rooted in optimizing the social, environmental, and economic benefits of low-impact, renewable energy generation facilities."

Jantzi Research in Toronto compiles detailed reports on thousands of stocks in Canada and around the world, delving into environmental, social and governance performance. The firm's research serves as the cornerstone for some of the largest socially responsible investment funds in Canada.

"Climate change and energy are key issues of corporate social responsibility, and Canadian Hydro Developers has made itself part of the solution by becoming a leader in Canada in the sustainable development of renewable energy sources," says Kevin Ranney, Managing Partner/Director of Research for Jantzi Research.

Canadian Hydro is about to fully commission its $475 million Wolfe Island Wind Project at the end of June, which will be the second largest of its kind in Canada. Once completed, the 197.8 MW project is expected to generate approximately 594 GWh of renewable power annually. Combined with the company's Melancthon EcoPower® Centre, Canadian Hydro will double its operations.

In making the list, Canadian Hydro was selected on the basis of its performance across a broad range of environmental, social and governance indicators. Jantzi Research conducted a thorough examination of the company's profile and corporate governance structure, researched media sources, online databases, government sources and NGOs, as well as consulted with key stakeholders.

"Being named among Canada's top 50 most socially responsible corporations confirms that we're well positioned to provide effective leadership and vision for Canadian Hydro to grow value responsibly, in a profitable and sustainable manner," says Brown.

About Canadian Hydro

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 renewable energy generation facilities in Canada totaling net 496 MW of capacity in operation, 383 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.

Common shares outstanding: 143,661,223

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 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) schedules and timing of certain projects and the Company's strategy for growth; (ii) reliance on management and key personnel to effectively manage the Company and advance the Company's strategy for growth and; (iii) the Company's future operating and financial results.

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.

Contact Information

  • Canadian Hydro Developers, Inc.
    Media Relations
    Lindsey Moen, Communications Coordinator
    (403) 802-2099 or Cell: (403) 510-4631
    Canadian Hydro Developers, Inc.
    Investor Relations
    Kathy Boutin, Vice President of Finance
    (403) 298-0256