The project, proposed to be approximately 142 megawatts, is located about 10 kilometres northeast of Tumbler Ridge.
We are developing the QWP with the goal of making it truly sustainable environmentally, economically, and for the regional community, said EPCOR Vice President Fred Shafai. EPCOR is progressing with the environmental assessment process for the project, including dialogue and engagement with the First Nations and stakeholders in the region.
The QWP is currently undergoing an environmental assessment. EPCOR anticipates filing for an Environmental Assessment Certificate in the first half of 2009.
EPCOR operates more than 3,500 MW of power generation throughout North America; 35 per cent of its generating capacity comes from renewable sources and waste energy recycling. In B.C., EPCOR generates power from four small hydro facilities and one of the largest biomass facilities in North America, located in Williams Lake. In 2007, these facilities generated enough clean electricity to meet the average annual needs of 89,000 homes in B.C. The company also operates the 40 MW Kingsbridge Wind Power Project located in Ontario.
Construction of the QWP will be subject to conditions such as regulatory approvals, economic and engineering assessments, successful participation in BC Hydros bid process, and negotiation of a power purchase agreement with BC Hydro.
EPCORs wholly-owned subsidiaries build, own and operate power plants, electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR, headquartered in Edmonton, Alberta, has been named one of Canadas Top 100 employers for nine consecutive years, and was selected one of Canadas 10 Most Earth-Friendly Employers. EPCORs website is www.epcor.ca.
Forward-looking Information Certain information in this press release is forward-looking and related to anticipated financial performance, events and strategies. When used in this context, words such as will, anticipate, believe, plan, intend, target, expect or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which could cause EPCORs actual results and experience to be materially different than the anticipated results.
Such risks and uncertainties include, but are not limited to, operating performance, commodity prices and volumes, load settlement, regulatory and government decisions, weather and economic conditions, competitive pressures, construction risks, obtaining financing and the performance of partners, contractors and suppliers.
Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.