Syntaris Power

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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NEWS RELEASE
March 4, 2010

Vancouver, British Columbia— There was some good news for the renewable energy sector contained in the 2010 provincial budget delivered by British Columbia’s Finance Minister Colin Hansen in Victoria Tuesday afternoon.

Hansen announced the creation of a new 100 million dollar climate action and clean energy fund that is meant to encourage ongoing development of clean transportation choices and support future growth of alternative energy including biomass, run-of-river and other forms of clean power.

“We are pleased to see that the provincial government is continuing to keep its commitment to support growth in the green energy sector in British Columbia now and into the future,” says Syntaris Power Corp. President and CEO Robert Fraser. “This is another important step in ensuring that BC will remain attractive to those wanting to invest in renewable energy,” Fraser adds.

The new clean energy funds are expected to become available once the province’s Clean Energy Act is tabled. The new Clean Energy Act is meant to encourage new investments in independent power production while strengthening BC Hydro. It is expected to provide for fair, predictable, clean power calls and simplify procurement protocols and institute new measures to encourage investment and create jobs.

To view the complete text of Finance Minister Colin Hansen’s budget speech, link here

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Company One Step Closer to Developing Renewable Power in BC

FOR IMMEDIATE RELEASE
Tuesday, November 17,2009

Vancouver, British Columbia—Syntaris Power is pleased to announce that the Company’s project proposals for its three renewable energy projects have made the shortlist of submissions for the 2008 BC Hydro Clean Power Call (CPC). The three projects represent an estimated total of 104 megawatts of electricity.

“This announcement confirms our belief in the quality of the projects that we submitted into the Clean Power Call”, says Syntaris President and CEO Robert Fraser. “These projects can produce clean, renewable electricity, create jobs in local communities, and provide long-term economic benefits for First Nations communities for generations to come.”

BC Hydro posted an updated list of projects and proponents on its website earlier this afternoon. Those proponents placed on the shortlist will be contacted in the near future to discuss advancing their projects with BC Hydro. Final Energy Purchase Agreements are expected to be announced before year end. BC Hydro will submit the Energy Purchase Agreements to the BC Utilities Commission as part of its process.

The three projects were submitted to BC Hydro under a General Partnership Agreement between Syntaris Power Corp. and HydroMax, a Vancouver-based subsidiary of the ENMAX Corporation headquartered in Alberta.

• The Kinskuch Hydro Project is located approximately 140 km north of Terrace, BC and is estimated to generate a total of 76 MW of power
• The Culliton Creek Project is located near Squamish, BC and is estimated to generate a total 15 MW of power
• The Maselpanik Creek Project is located approximately 35 km south of Hope, BC and is estimated to generate 13 MW of power

In addition to these projects, Syntaris holds about 30 applications for small hydroelectric projects in British Columbia representing an additional estimated total of over 450 megawatts. This brings the company’s total potential power output to approximately 550 megawatts. The company has the option of developing some of these renewable energy projects through BC Hydro’s Standing Offer, which allows projects fewer than 10 megawatts to proceed once they have received a water licence and an environmental assessment certificate.

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News Release
For Immediate Release
October 28, 2009

VICTORIA – As part of its commitment to reduce greenhouse gases and become a clean energy powerhouse, the Province has clarified its intention to the British Columbia Utilities Commission (BCUC) to end BC Hydro’s reliance on the Burrard Thermal Generating Facility for energy needs. The decision was announced today by Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources.

“We’ve been committed since 2001 to ending BC Hydro’s reliance on Burrard and to only using it for emergency back-up capacity,” said Lekstrom. “In B.C, we have the opportunity to develop clean, renewable, cost-effective electricity with virtually no greenhouse gas emissions. That will also improve air quality in the Lower Mainland.”

BC Hydro has been planning to reduce its reliance on Burrard, as proposed in its recent Long Term Acquisition Plan, to help meet the legislative target to reduce greenhouse gas emissions by six per cent by 2012, 18 per cent by 2016, and 33 per cent by 2020. Today’s direction is consistent with the government’s Climate Action Plan, BC Energy Plan, and the Utilities Commission Act.

Effective immediately Burrard will no longer be used for planning purposes for firm energy. It will only be used for up to 900 megawatts of emergency capacity.

Link to full News Release