Plutonic Power Corporation

Plutonic Power Corporation

April 25, 2007 14:32 ET

Plutonic Power Awarded Environmental Assessment Certificate

EA Certificate Paves the Way for Construction of BC's Largest Run-of-River Hydroelectric Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 25, 2007) - Plutonic Power Corporation (TSX VENTURE:PCC) today received Provincial Environmental Certification from the British Columbia Environmental Assessment Office (EAO) for the 196 megawatt East Toba River and Montrose Creek run-of-river hydroelectric project and transmission line paving the way for construction of BC's largest renewable energy project.

The East Toba River/Montrose Creek project will be located on two sites on the East Toba River and Montrose Creek 150 kilometers north of Powell River, BC. The project also includes a 145 km long transmission line for interconnection to the grid.

"Receiving the Environmental Certificate is the culmination of over two years of environmental fieldwork, analysis and community and government consultation," said Donald McInnes, President of Plutonic Power. "This project will make a significant contribution in helping BC achieve energy self sufficiency and provide numerous economic benefits to residents in the Powell River area. We are extremely excited about moving this project forward and anticipate starting construction in the next few months once the appropriate construction permits are secured."

The project triggered a screening level review under the Canadian Environmental Assessment Act prompting the EAO and federal agencies to harmonize the environmental assessment (EA) process and prepare a joint Assessment Report/Screening Report for decision makers. Based on this report the EAO has concluded that the East Toba River and Montrose Creek run-of-river hydroelectric project will have no significant environmental, social or health effects on the surrounding area. A federal decision on the project is eminent.

Plutonic Power recently signed an Impact Benefits Agreement (IBA) with both the Klahoose and the Sliammon First Nations. Construction of the East Toba River/Montrose Creek run-of-river project is expected to get underway this summer following the closing of financing, finalization of an interconnection agreement with British Columbia Transmission Corporation (BCTC) and the conclusion of a fixed-price construction agreement with Peter Kiewit Sons Co.

Having received the provincial EA certificate, Plutonic Power will now secure the necessary provincial licenses and leases and federal authorizations, approvals and leases so the project can proceed. These are expected to be readily obtained by the company in the next 60 days.

The provincial EA certificate contains more than 77 commitments that Plutonic Power has made and must implement throughout the various phases of the project. Some key commitments include:

- Mitigation measures to protect:

- Wildlife and wildlife habitat, including observation of construction time windows;

- Fish and fish habitat, including maintenance of safe water temperature levels and stream flow requirements;

- Protection of areas of cultural significance to the Klahoose, Sliammon and Sechelt First Nations;

- Development and implementation of compensation and monitoring programs; and

- Appointment of an environmental monitor responsible for implementing and monitoring all environmental programs.

Capital costs for this project are estimated at $550 million, including owners cost and interest during construction, and it is expected to create approximately 600 person-years of employment during the 3.5 year construction phase with an additional 10 to 20 permanent positions during operations.

More information on the Environmental Certificate can be found at

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 25 run-of-river projects have a design capacity of over 1,300 MW and the potential to generate approximately 4,400 GW.h per annum of green energy, enough energy to meet the annual energy needs of approximately 440,000 homes. Included in the 25 projects is the creation of the Green Power Corridor, a series of nonstorage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America.

The completion of the Green Power Corridor would be financed through one of the largest single private sector green energy investments ever made in British Columbia and would create over 3,900 person-years of employment.

Plutonic is committed to continuously work with First Nations, stakeholder groups and local communities in the development of its run of river projects.

On behalf of the Board of Directors


Donald McInnes, President

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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