Fort Chicago New Partner in Syntaris Project
This entry was posted on Wednesday, September 8th, 2010 and is filed under News Releases, Renewable Financing, Syntaris Power.
Calgary based company has significant experience in owning, operating energy infrastructure
NEWS RELEASE
September 8, 2010
Vancouver, British Columbia—Syntaris Power Corp. (Syntaris) is pleased to announce Calgary based Fort Chicago Energy Partners L.P. (Fort Chicago) as a partner in the Culliton Creek hydroelectric development located near Squamish, B.C. Fort Chicago acquired an interest in the project as part of its recently announced purchase of a number of renewable energy assets from ENMAX Corporation, the Southern Alberta utility. In these transactions, Fort Chicago acquired a 50 percent ownership interest in the 15 megawatt Culliton Creek hydroelectric project which was awarded a 30-year electricity purchase agreement from BC Hydro on March 31, 2010. Syntaris holds the remaining 50 percent ownership in the Culliton Creek Project. The announcement comes as work on Culliton Creek continues to forge ahead. The company submitted the Development Plan for the project in August and the public process is set to begin in October.
“We are happy to work with Fort Chicago in the further development of this and other possible projects,” says Syntaris Power’s President and CEO Robert Fraser. “The company has significant experience in operating energy infrastructure and is fast becoming a major player in the renewable energy industry in North America. We intend to lever this new relationship to the best advantage of both companies.”
For further information about Fort Chicago, please visit the company’s website, www.fortchicago.com.
