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| Canada: Canadian Hydro Acquires Windrise Prospect From EarthFirst Canada Inc.
27
May
2009
CALGARY, ALBERTA- Canada's largest and most diversified renewable energy company, Canadian Hydro Developers, Inc. (TSX:KHD), confirmed today the purchase of the Windrise Prospect (Windrise) from EarthFirst Canada Inc. for $250,000.
"The acquisition of Windrise is a strategic addition to our diverse portfolio of wind, run-of-river hydro and biomass development," says Kent Brown, Executive Vice President & Chief Financial Officer. "It complements our vision to be the premier independent builder, owner and operator of renewable energy projects."
The site is located amongst a cluster of existing Canadian Hydro operations in southern Alberta, directly adjacent to the Company's Soderglen EcoPower® Centre near Fort Macleod, Alberta, where the Company has been working on the development of the 50 MW (25 MW net to Canadian Hydro's interest) Soderglen Expansion Wind Prospect. If built, Windrise represents a minimum capacity generation of 99 MW, enough to power nearly 100,000 homes.
"The geographic area is a consistently proven and excellent wind resource, so we fully intend to pursue developing this site," says Brown. "We have option agreements with the landowners in place."
Development of the site is dependent on a proposed 240 kV interconnection to the Alberta grid, which is expected to be in place in 2010. Canadian Hydro is continuing to gather data and work through the permitting process to prepare its application for provincial regulators.
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 1,525 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
Organization name: Canadian Hydro Developers, Inc.
Contact Person: Kathy Boutin
Vice President, Finance
E-mail: KBoutin@canhydro.com
Phone: (403) 298-0256
City: Calgary
Country: Canada
Web: http:// www.canhydro.com
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