Syntaris Power

Four power projects, including one that will install 66 wind turbines on the northeast coast of Vancouver Island, have been approved under a new purchase agreement by BC Hydro.

…The four projects approved by BC Hydro will generate more than 450 gigawatt hours (GWh) of electricity – enough to supply about 40,000 homes.

The projects are the Knob Hill wind farm (281 GWh) to be built by Sea Breeze Energy Inc. near Port Hardy; a (68 GWh) hydro-project by Run of River Power Inc. in the Mamquam watershed, near Squamish; a (56 GWh) run-of-river project by ENMAX-Syntaris Bid Corp., on Culliton Creek also near Squamish, and a (46 GWh) waste heat plant near Sparwood, to be built by AltaGas Ltd.

By Mark Hume and Justine Hunter

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Vancouver, British Columbia— Syntaris Power Corp. (Syntaris) is pleased to announce that the company has been awarded an Energy Purchase Agreement (EPA) for its hydroelectric project located at Culliton Creek, approximately 20 kilometres north of Squamish.

Upon completion, the Culliton Creek Project will generate an estimated 15 megawatts of renewable electricity, sufficient to power 7,400 homes in an average year. The project will also benefit the local community through the creation of an estimated 200 person-years of employment during the construction phase and provide a significant long-term revenue stream for government through the payment of annual taxes and other fees during operation.

“This announcement is a substantial step forward in the development of our company,” says Syntaris CEO and President Robert Fraser. “It confirms our faith in the quality of our projects and of our dedicated team of experienced professionals. We are eager to begin the construction phase on Culliton Creek and to conclude negotiations with BC Hydro on our other projects.”

Culliton Creek is one of three hydroelectric projects that were submitted by Syntaris Power to the Clean Power Call in 2008. The Kinskuch Hydro Project (76 megawatts) is still under consideration by BC Hydro. The projects were developed and submitted in partnership with HydroMax, the BC division of the Calgary-based utility Enmax.

Syntaris is committed to working with First Nations partners to build sustainable projects that will bring long-term socio-economic benefits for future generations. These benefits include employment and skills training as well as new business and recreational opportunities.

This project qualifies as clean or renewable energy in accordance with the guidelines published by the BC Ministry of Energy, Mines and Petroleum Resources. For more information on the Culliton Creek Project click here

About Syntaris Power Corp.
Syntaris Power Corp. is a Vancouver-based green energy company committed to sourcing, developing and operating clean, renewable hydroelectric projects in the Province of British Columbia. The Company’s impressive development portfolio, representing about 500 MW of potential projects, can provide socio-economic benefits to First Nations and local communities. Successful development of these projects would help British Columbia achieve its required goal of energy self-sufficiency by 2016 and create a legacy of clean, renewable power for future generations.
For more information about Syntaris Power, visit the company website at www.syntaris.com

Forward Looking Information: The information contained in this news release may contain forward looking statements. Forward looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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VANCOUVER, B.C. – BC Hydro has awarded the first batch of electricity-purchase agreements in its contentious, government-driven clean-power program.

The 19 wind and run-of-river projects will generate 2,400 gigawatt hours of electricity a year – enough to power 218,000 homes.
B.C. Energy Minister Blair Lekstrom said Thursday they’re a significant step toward meeting the government’s goal of becoming energy self-sufficient using clean, renewable energy by 2016.

But the NDP Opposition is challenging the need for the projects at all, as well as their potential costs to electricity ratepayers.

The 19 projects by a handful of companies include 14 run-of-river operations, where water is diverted through turbines to generate electricity, and five wind-turbine projects.

Lekstrom said in a statement that all told, the projects involve $3 billion in capital investment and generate 3,000 person-years of employment during construction.

Hydro’s acting president, Bev Van Ruyven, said more clean-power projects will be announced in the coming weeks, with the Crown-owned utility’s target of acquiring up to 5,000 gigawatt hours annually of clean energy from B.C. sources.

By: Steve Mertl, THE CANADIAN PRESS

Link to full article

News Release
March 11, 2010

Vancouver, British Columbia— BC Hydro announced some of the contract awards for its 2008 Clean Power Call this afternoon. According to a release posted on its website, upcoming contract awards will be posted on the site as they are finalized.

“We are pleased to note that BC Hydro has begun the process of awarding contracts to worthy projects,” says Syntaris Power Corp. CEO and President Robert Fraser. “We submitted three excellent hydroelectric projects to BC Hydro. They are well positioned in terms of pricing and can deliver clean, renewable energy to the grid,” he adds. “We are in final negotiations on contract terms and look forward to concluding contractual arrangements with BC Hydro shortly.”

Syntaris Power submitted three hydroelectric projects into the 2008 Power Call, representing a total estimated capacity of 104 Megawatts. The projects are Culliton Creek, a 15MW project located near Squamish; Kinskuch River, a 76 MW project located near Stewart; and Maselpanik Creek, a 13MW project southeast of Chilliwack.

To view Hydro’s announcement of the projects to be awarded contracts go here

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