Replies to post #2092 on Tackler's trades

[Tackler]

Finavera enters B.C. EA with four wind power projects

2007-05-15 05:31 MT - News Release

Mr. Jason Bak reports

FINAVERA RENEWABLES SUBMITS 366 MEGAWATTS OF WIND PROJECTS INTO THE BRITISH COLUMBIA ENVIRONMENTAL ASSESSMENT PROCESS

Finavera Renewables Inc. has entered four wind power projects into the British Columbia Environmental Assessment process. The four projects are located in the province's Peace region and have a nominal nameplate capacity of 366 megawatts. Once operational, the projects could provide clean, renewable electricity to more than 100,000 Canadian homes.

Finavera Renewables chief executive officer Jason Bak said: "These four projects illustrate our commitment to developing British Columbia's wind industry hand in hand with the communities of the Peace region. The clean, cost-effective energy created by these projects will diversify B.C.'s energy mix while reducing our dependence on fossil fuels. Our company is committed to extensive public consultation with interested stakeholders, and looks forward to developing a clean energy legacy that will benefit the province for years to come."

As part of the EA process, the company will undertake environmental studies, engineering design and analysis, and community and first nations consultations. Finavera Renewables plans to submit one or more of the projects into the next British Columbia Hydro call for tenders (expected during the fall of 2007). If successful, this will provide a long-term power purchase agreement for the projects as one possible route to market for generated electricity. The project areas have been selected based on excellent wind resources, accessibility from existing transportation infrastructure and proximity to nearby transmission systems.

The Environmental Assessment Office has issued Section 10(1)(c) orders under the Environmental Assessment Act, requesting the company complete environmental assessments for the following projects:

Wildmare wind energy project -- estimated 74 MW;

Bullmoose wind energy project -- estimated 112 MW;

Tumbler Ridge wind energy project -- estimated 100 MW; and

Mount Clifford wind energy project -- estimated 80 MW.

Mr. Bak concluded: "Worldwide, wind energy is a proven technology and in Canada, it is emerging as a significant new source of electricity. Wind power is a clean, renewable source of energy producing no pollutants, air emissions or hazardous waste, thus reducing Canada's contribution to global climate change. By recognizing the inherent responsibility that we share as individuals and as a company, and along with the stewardship of governments, we believe a new energy economy can be created. This new economy can generate substantial international investment, job creation and wealth."

Full project descriptions are posted on the Environmental Assessment Office website.

Wildmare project

The proposed Wildmare wind energy project would consist of approximately 37 wind turbine generators, with an installed capacity of approximately 74 MW (based on two MW per turbine). The project will be located within an investigative use permit area held by the company on Crown land in the Peace region of British Columbia, west of Chetwynd.

Bullmoose project

The proposed Bullmoose wind energy project would consist of approximately 56 wind turbine generators with an installed capacity of approximately 112 MW (based on two MW per turbine). The project will be located within three investigative use permit areas held by the company on Crown land in the Peace region of British Columbia, west of Tumbler Ridge.

Tumbler Ridge project

The proposed Tumbler Ridge wind energy project would consist of approximately 50 wind turbine generators, with an installed capacity of approximately 100 MW (based on two MW per turbine). The project will be located within two investigative use permit areas held by the company on Crown land in the Peace region of British Columbia, northwest and southwest of the community of Tumbler Ridge.

Mount Clifford project

The proposed Mount Clifford wind energy project would consist of approximately 40 wind turbine generators with an installed capacity of approximately 80 MW (based on two MW per turbine). The project will be located within an investigative use permit area held by Finavera Renewables on Crown land in the Peace region of British Columbia, southeast of Tumbler Ridge.