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News, Western Canada

B.C.’s EAO to Assess 130-Megawatt Hydro Project

Posted on September 24, 2008

Plutonic Power’s application for an environmental assessment certificate for the 130-megawatt Upper Toba Valley run-of-river hydroelectric project has been accepted by the BC Environmental Assessment Office.

The Upper Toba Valley run-of-river project is comprised of three generation facilities on Jimmie Creek, Dalgleish Creek and the Upper Toba River and will utilize the same transmission line being built for Plutonic’s 196 MW Toba/Montrose project, which has been under construction since July 2007. The Upper Toba Valley project has now been formally accepted into the application review phase of the BC Environmental Assessment process. The application phase provides for a review period of up to 180 days that includes agency, public and stakeholder consultation, together with a concurrent review of permits and licenses.

Plutonic expects that the environmental assessment process should conclude by early spring 2009. Plutonic and GE Energy Financial Services intend to jointly bid the Upper Toba project into BC Hydro’s Clean Power Call in November 2008.

Plutonic currently has working capital of approximately $35 million which is anticipated to be more than enough to meet its needs until the results of the BC Hydro Clean Power Call are announced by the end of June 2009.

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