News Release
May 10, 2010
Vancouver British Columbia-Syntaris Power Corp. is pleased to announce that the Calgary, Alberta-based utility Enmax has exercised its option to acquire a 50% ownership position in the Culliton Creek Hydro Project.
Located about 20 kilometres north of Squamish, the 15 megawatt project received an energy purchase agreement in BC Hydro’s Clean Power Call (CPC) in March. Culliton Creek was developed and submitted to the CPC in November 2008 in partnership with HydroMax, the BC division of Enmax.
Upon completion, the Culliton Creek Project will generate an estimated 74 GWh of renewable electricity annually, which is sufficient to power approximately 7,400 homes in an average year. The project is also expected to create an estimated 200 person-years of employment during its construction phase and will provide long-term revenue to government through payment of annual taxes and other fees during its operation.
The Culliton Creek Hydro 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 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
About Enmax
ENMAX Corporation (ENMAX) is an energy distribution, supply and service company and a wholly-owned subsidiary of The City of Calgary, headquartered in Calgary, CANADA. ENMAX operates and competes in Alberta’s restructured electricity industry. In 2009, the company had shareholder’s equity of $1.744 billion and net earnings of $205.9 million.
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