Run of River Power Inc. Receives Skookum Power Project Approvals
26 Junio 2012 - 6:06AM
PR Newswire (Canada)
VANCOUVER, June 28, 2012 /CNW/ - Run of River Power Inc., ("ROR" or
the "Company") together with its wholly-owned subsidiary Sea to Sky
Power Corporation, and Concord Green Energy are pleased to announce
that the 25 megawatt ("MW") Skookum Power Project (the "Project")
has received a Conditional Water License and a License of
Occupation from the BC Ministry of Forests, Lands and Natural
Resource Operations. The $92 million Project is located on Skookum
Creek approximately 10 kilometres east of Squamish, BC. Once
completed, the Project will generate enough power to provide
electricity for up to 8,400 homes and will offset as much as 70,000
tonnes of carbon dioxide annually by reducing BC's dependency upon
imports of greenhouse gas emitting power production. During the two
year construction period the Project will generate jobs and provide
a significant boost to the local economy. An Impact and Benefits
Agreement has been signed with the Squamish First Nation which will
provide for revenue sharing and job opportunities. Run of River
Power President and CEO Rick Hopp remarked, "The award of a
Conditional Water Licence and Land Act Tenure for the Skookum Power
Project marks a major milestone for ROR in British Columbia. This
Project has been under development since 2007 and the culmination
of these approvals and authorizations means we can now move
forward. The Project, expected to be in production in early 2014,
will provide considerable value for ROR shareholders and
significant economic benefits to the region". Run of River Power
would like to thank Concord Green Energy, the Squamish and
Tsleil-Waututh First Nations, together with the District of
Squamish, the Squamish Lillooet Regional District and our community
partners for their continued support for this Project. The Company
looks forward to working with them on this and future projects with
the objective to generate sustainable power and long term economic
growth." About Run of River Power Inc. ROR Power develops
renewable, sustainable energy through its portfolio of clean energy
projects. The company helps diversify BC's energy mix by providing
a cleaner way to generate power and increasing the security of BC's
energy supply. ROR Power operates an Eco Logo© certified
hydroelectric power generation station at Brandywine Creek, near
Whistler, BC that provides green power for about 4,000 homes. With
a total development potential of approximately 400 MW, the company
is well positioned for profitable growth. Forward-Looking
Statements Statements in this release which describe Run of River
Power Inc.'s intentions, expectations or predictions, or which
relate to matters that are not historical facts are forward-looking
statements. These forward-looking statements involve unknown risks
and uncertainties which may cause the actual results, performances
or achievements of Run of River Power Inc. to be materially
different from any future results, performances or achievements
expressed in or implied by such forward-looking statements. Run of
River Power Inc. may update or revise any forward-looking
statements, whether as a result of new information, future events
or changing market and business conditions and will update such
forward-looking statements as required pursuant to applicable
securities laws. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Run of River Power Inc. CONTACT:
Information ContactRichard W. HoppPresident and CEOTel:
604-946-9232rhopp@runofriverpower.com
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