BC Hydro Awards Electricity Purchase Agreement to Syntaris Power Corp.
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
Link to Hydro’s announcement of the 2nd round of projects to be awarded contracts
Link to Hydro News Release
Link to Syntaris News Release
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