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NEWS
British Columbia to Reap Benefits of $50 Million Wind
Farm
New Clean Energy Facility to Generate Jobs, Stabilize Energy Costs
Vancouver, British Columbia (August 2, 2006) - A new $50 million wind energy facility near the town of Prince Rupert will bring jobs and tax revenues to the region, and help stabilize future rates for customers of BC Hydro, according to officials with project developer Katabatic Power of Richmond.
We're pleased that BC Hydro has agreed to buy all the electricity generated at the Mount Hays wind farm for the next 25 years, said Jonathan Raymond, Chief Operating Officer. This agreement demonstrates BC Hydro's commitment to providing affordable, reliable and clean energy for their customers.
Once completed, the Mount Hays wind energy facility
will generate enough electricity for approximately 12,000
homes. The facility, planned for just south of Prince
Rupert, will be among the first wind farms in the Province.
Last week, BC Hydro announced its plans to enter a
Electricity Purchase Agreement (EPA) with Katabatic
for the full 25.2 megawatt capacity of the Mount Hays
project through the year 2033. The utility is acquiring
new energy supplies through the completion of its 2006
Call for Tenders. The Mount Hays project is expected
to break ground in April 2008, and will be fully functional
by the fall of 2008.
This is a tremendous step ahead for Katabatic and for the future of wind power in the Province, said Raymond. BC Hydro recognizes the value of adding wind power into their portfolio as it works to meet the Province's ongoing energy needs. We look forward to working in partnership to develop the region's substantial clean energy resource.
Katabatic Power is a privately held wind energy developer
based in Richmond, British Columbia and San Francisco,
California. In addition to the Mount Hays project, the
Company is in development of the Banks Island Wind Farms.
Katabatic's core business is focused on taking advantage
of the vast untapped wind resource on the North Coast
of British Columbia, a region recognized as among the
best wind energy resources in the world.
Media Contact:
Gavin Berg
VP Operations
Phone: 415 931-6236
gberg@katabaticpower.com
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