Biomass Projects Meet Requirements for BC Hydro’s BioEnergy Phase One Request for Proposals
/NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 9 – Run of River Power Inc. (TSXV: ROR) (“Run of River” or the “Company”) is pleased to report that its wholly owned biomass development company Western Biomass, has received confirmation that its two biomass projects have met all the requirements necessary to move forward in the first phase of BC Hydro’s two phased 2008 Bio-Energy call. The British Columbia Transmission Corporation indicated that Interconnection Feasibility Studies for the two projects are targeted for completion by mid June 2008. A short list of candidates is expected to be announced by BC Hydro within the next two months leading to negotiation and award of long term power purchase agreements by Q3, 2008. The Company currently has two large scale biomass power initiatives totaling 90 MW of base load capacity under development. The 60 MW Tsilhqot’in Power project is a joint venture between Western Biomass and the Tsilhqot’in National Government and will utilize mountain pine beetle damaged timber, which has devastated over 8 million hectares of pine forests in central British Columbia, for its fibre supply.
The second project is the 30 MW Suskwa Biomass power project to be located in North West British Columbia near New Hazelton, BC. ROR recently agreed to purchase 80% of Pacific Northwest Biomass Corp (PNBC) whereby PNBC holds 100% interest in the project with and an option for their partners, the Suskwa Chiefs to acquire up to 40% of the facility. The plant is strategically located less than 3 km from the provincial grid and will draw from what has been described as one of the best fibre baskets in the province, primarily utilizing decadent (dead) standing timber as well as biomass waste from existing logging operations in the area, for its fibre supply.
Jako Krushnisky President of Run of River stated, “with an intensive silviculture program planned to accompany these initiatives we look forward to contributing to the Provinces’ energy policy initiatives of sustainability and energy self sufficiency. These projects are considered carbon neutral and will significantly contribute to the reduction of greenhouse gases while providing First Nations an opportunity to directly participate leading to significant employment opportunities in economically depressed areas. We will work with our First Nation partners to ensure maximum benefits accrue to local communities and that the projects are sensitive to local needs and concerns.”
About Run of River Power Inc.
Run of River operates an Eco Logo(C) certified hydroelectric power generation station at Brandywine Creek, near Whistler, BC and sells the power to BC Hydro on a long-term 20 year contract.
In addition to its run-of-river operations and its Western Biomass initiatives, ROR is currently developing several clusters of run-of-river projects located in British Columbia. The Company is positioning itself to be a significant player in British Columbia’s renewable power sector with over 500 MW of renewable energy potential, while striving to meet and exceed environmental, social and economic objectives.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
For further information: Jako Krushnisky, President and CEO, or Vick Dusik, CFO at (604) 946-9232; or David Speck, Investor Relations at (416) 368-8464