Canasia Power Corp.

Canasia Power Corp.

September 23, 2009 09:00 ET

Canasia Power Increases Stakes in the State of Gujarat, India

TORONTO, CANADA--(Marketwire - Sept. 23, 2009) - Canasia Power Corp. ("Canasia"), a Canadian power development company, is pleased to announce that it has received the official mandate from the Government of Gujarat, Department of Energy and Petrochemicals, to increase the size of its proposed 1,320MW (2 x 660MW) supercritical 'clean-coal' thermal power plant to 1,980MW (3 x 660MW).

Canasia Power is a Canadian power project developer; in the business of development, financing, construction and ownership of electricity generating plants and related power infrastructure.

Canasia has been developing a similar supercritical thermal power plant in the State of Uttar Pradesh for many years but due to the unique political and bureaucratic characteristics of that State, the development of that Project is on a much slower track than in Gujarat. The State of Gujarat has a reputation of being an efficient and business-friendly State. Canasia's experience to-date bears that out, with Canasia now developing a much larger power project in Gujarat and receiving active support from the Department of Energy and Petrochemicals, Government of Gujarat.

Due to the increasing confidence in the State and the State bureaucracy Canasia is broadening its scope of activities in Gujarat to include solar power, natural gas and possibly geothermal. A 2 x 25MW solar proposal was submitted to the State last month with a request for 500MW downstream.

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