Canadian Hydro Developers, Inc.

Canadian Hydro Developers, Inc.

July 16, 2007 19:01 ET

Canadian Hydro Subsidiary Sells New Brunswick Prospect

CALGARY, ALBERTA--(Marketwire - July 16, 2007) - Canadian Hydro Developers, Inc. (TSX:KHD) ("Canadian Hydro" or the "Company") announced today that it has closed the sale of the 21 MW Fairfield Hill Wind Prospect ("Fairfield Hill") to TransAlta Corporation. Canadian Hydro acquired Fairfield Hill through its purchase of Vector Wind Energy Inc. in late December 2006. Fairfield Hill is located near the Town of Dorchester in northern New Brunswick. Financial terms of the sale are confidential.

"We are pleased this prospect has been acquired by TransAlta, allowing it to be developed to its full potential," said John Keating, CEO of Canadian Hydro. "Despite Fairfield Hill being an excellent prospect, our renewables-only strategic focus continues to be on our 385 MW of construction projects and 1,370 MW of development prospects located in B.C., Alberta, Ontario and Manitoba. We believe the prospects for renewable energy development in New Brunswick are very positive and thank the provincial government and New Brunswick Power Distribution and Customer Service Corporation for the opportunity."

Canadian Hydro is a developer, owner, and operator of 19 power generation facilities totaling net 265 MW in operation and has an additional 385 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.

Canadian Hydro is passionate about meeting the goals of investors and the needs of the environment. As an industry leader, Canadian Hydro is focused on building a sustainable future for Canada. With over 17 years experience, Canadian Hydro is a working model for the unlimited development potential of low-impact renewable energy.

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.

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