Calgary, Canada – January 26, 2001 – Canadian Hydro Developers, Inc. (TSE:KHD) has been very active during the past year, developing its portfolio of power generation projects in Alberta, Ontario and BC.
The Company expects to construct and commission a 19.5 MW wind plant near its existing Cowley Ridge wind plant in southern Alberta by the end of 2001. Applications for regulatory and municipal approval have been filed and equipment has been ordered for delivery during the summer of 2001. Canadian Hydro is also pursuing an expansion to its Drywood gas fired facility which will result in an additional 7MW net to the Company's interest, which should also be in production by year-end.
In late 2000, the Company, with its 50% joint venture partner, made the decision to start construction of the 30MW Pingston hydroelectric plant near Revelstoke, BC. This plant had originally been conceived and permitted as a 25 MW plant but approval to expand the plant has been received from the BC regulatory authorities. This plant should be commissioned by mid-2002.
The Dunvegan hydroelectric plant will be built on the Peace River in northern Alberta. The regulatory process applicable to this plant is currently underway. The Company has increased the original design capacity for this plant from 40MW to 80 MW. Assuming that all regulatory approvals are received during 2001, construction will commence in 2002 and will be completed during 2003.
A 6MW project is in the consultation and approval phase for the Trent-Severn waterway in Ontario near Peterborough. Construction of this plant will be partially dependent on the results of deregulation of the Ontario electricity market. It is possible that construction of this facility will start in 2002 and be completed in 2003.
Canadian Hydro's wholly owned subsidiary, Canadian Gas & Electric Inc., is in negotiations to build a 25MW biomass electrical facility in northern Alberta. If all regulatory approvals are obtained in a timely fashion, this plant will be built during 2002.
In addition to these active projects, Canadian Hydro is continuing its study work on the Ashlu and Mamquam prospects in BC, aggregating 39.5MW net to the Company's interest.
Through its active pursuit of a variety of projects, the Company is building long-term shareholder value. Canadian Hydro is committed to the concept of low-impact power generation. Through its wind, run-of-river hydro, and gas-fired facilities, Canadian Hydro is demonstrating that commitment to the benefit of the environment and its shareholders.
For more information, please contact:
John Keating, President (403)298-0251
e-mail: john@canhydro.com
Common shares outstanding: 28,062,427
CUSIP: 13605E101 |
