Sunbay Energy Corporation

Sunbay Energy Corporation

February 23, 2009 15:56 ET

Green Energy Act a Major Boost for Ontario Developers

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2009) - Sunbay Energy Corporation (Sunbay) applauded the tabling of the Green Energy Act in the Ontario Legislature today. Sunbay is an Ontario-based renewable energy developer building a series of gasification projects throughout the Province with their partner, Europlasma SA, a global leader in renewable energy technologies.

Two projects involving the companies and their Project Consortium have been publicly announced in the Ontario communities of Port Hope and in Chapleau in recent weeks. Sunbay officials noted that there will be several more to follow now that the Government of Ontario is moving forward with the Green Energy Act.

"This is clearly a major boost for renewable energy and the environment," remarked Jordan Oxley, President of Sunbay. "We applaud Premier McGuinty, Minister Smitherman, the Liberal Cabinet and Caucus, and all Members from all parties that support this initiative," he continued. "The Green Energy Act will motivate developers like Sunbay to build more projects, sooner, and that means a healthier environment and quality jobs."

The Green Energy Act legislation tabled today addressed a number of priorities for environmentalists, renewable energy developers, Ontario households and other active stakeholders. The sweeping changes replace the Renewable Energy Standard Offer Program (RESOP) with a system of feed-in tariffs and power pricing based on project criteria. Also key were changes that will make it easier for renewable energy projects to move through the approvals process and connect to the provincial electricity grid.

The communities where Sunbay projects are located will see early benefits, with employment throughout the construction period and into operations. Mayor Earle Freeborn of Chapleau noted: "These are great projects at any time, but right now we need good news more than ever. Passing the Green Energy Act will support the success of the Chapleau Biomass Project, and that in turn will support the success of our community." Port Hope Mayor Linda Thompson echoed those remarks: "Now is the time for the public and private sector to work together to build essential infrastructure and create sustainable employment. The opportunity this opens for world-class energy projects that also protect the environment, like Sunbay Port Hope, could be a huge step forward for the Province."

Today marked the first reading of the Green Energy Act, followed by public consultation, the second reading and then a final vote in the Ontario Legislature. While noting the company is now in a detailed review of the legislation and its affect on their projects, Mr. Oxley further remarked that "Once final revisions are agreed through public consultation, it is absolutely vital that all Ontarians support the passing of this legislation swiftly. We are ready to do our part to get shovels in the ground and green energy onto the grid."

ABOUT SUNBAY ENERGY

Sunbay Energy Corporation was founded in 2007 to develop a series of renewable energy projects in Canada. The primary focus is on gasification systems with plasma-enhanced gas conditioning. The company acts as the Canadian developer for Europlasma SA, a leading technology provider based in Bordeaux, France. The Project Consortium has recently added Ontario-based Toromont-CAT and PRM Energy Systems from Arkansas.

This particular system was selected due to its best-of-class efficiency and environmental performance along a wide range of important considerations, including air emissions.

Two projects have been publicly-announced: Sunbay Port Hope, a 20 MW, 400 ton per day facility; and Chapleau Biomass, a 10 MW, 200 ton per day facility. The former will derive power from recycling residual biomass provided by Turtle Island Recycling. The latter will derive power from wood fibre biomass from several sources, including First Nations.

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