Alternative Energy Companies (fka NO-GAS)

[Tackler]

KHD Canadian Hydro 50% option of Melancthon to be exercised

2004-11-25 18:04 ET - News Release

Mr. Patrick Gillette reports

CANADIAN RENEWABLE ENERGY CORPORATION INITIATES REVIEW OF MELANCTHON GREY WIND PROJECT

Canadian Renewable Energy (CREC) in March, 2004, obtained a 50-per-cent option from Canadian Hydro Developers Inc. to acquire 50 per cent of Canadian Hydro's Melancthon Grey wind project located near Shelburne in Southern Ontario.

Canadian Hydro announced in Stockwatch on Nov. 25, 2004, that it has been awarded a 20-year renewable energy supply contract from Ontario Energy Financial, a statutory body of the Ontario government, for the supply of 67.5 megawatts of electricity from wind resources.

CREC, subject to due diligence and satisfactory financing, intends to exercise its option to acquire the 50-per-cent interest in the Melancthon Grey wind project.

CREC will also be preparing to submit the largest of its four wind power projects on Wolfe Island near Kingston, Ont., and up to three waterpower projects into the next round of the Ontario provincial government's renewable RFP.