You are herePlutonic Power Corporation: Environmental Assessment Certificate Granted for Upper Toba Valley Run-Of-River Project
Plutonic Power Corporation: Environmental Assessment Certificate Granted for Upper Toba Valley Run-Of-River Project
News Release, Plutonic Power Corp.,April 07, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2009) - Plutonic Power Corporation's (TSX:PCC) subsidiary Upper Toba Hydro Inc. is pleased to announce that it has been granted a Provincial Environmental Assessment (EA) Certificate from the Ministry of Environment and Ministry of Energy, Mines and Petroleum Resources for the Upper Toba Valley Hydroelectric Project. The Project is comprised of three run-of-river facilities respectively located on the Upper Toba River, Jimmie Creek and Dalgleish Creek, all of which are in the Toba Valley 150 kilometers north of Powell River, BC.
The granting of the Certificate represents a successful conclusion to a comprehensive environmental assessment process that has involved significant consultation with government agencies, public stakeholders and the Klahoose First Nation. The Project will result in a relatively small footprint by leveraging the existing infrastructure and utilizing the same transmission line for the 196 MW East Toba River Montrose Creek project, which is currently under construction in the Toba Valley by Plutonic Power and its investment partner GE Energy Financial Services.
"The Upper Toba Valley Project will provide green employment opportunities during the construction phase and further significant local purchasing and community benefit for the Sunshine Coast area, building on the relationships we have already established for the Toba Montrose Project, while helping address the bigger issue of climate change," said Plutonic Power Vice-Chair and CEO Donald McInnes.
The Upper Toba Valley Project was jointly bid by Plutonic Power Corporation and GE Energy Financial Services into BC Hydro's 2008 Call for Power in November 2008 and has the capacity to generate up to 166 MW of green energy.
Plutonic Power has received a letter of support from the Klahoose First Nation on whose traditional territory the project is located. Plutonic and the Klahoose are working towards finalizing an Impact and Benefit Agreement for the project.
McInnes added: "Plutonic Power is now in a position to work towards finalizing the necessary provincial and federal permits and authorizations required to move into the construction phase of the project, if we are successful in securing an electricity purchase agreement with BC Hydro."
The provincial EA certificate contains 52 commitments Plutonic must implement throughout various stages of the project.