Run of River Power signs purchase agreement with BC for small hydro project

Hydro generator Run of River Power Inc. announced it has signed a 40-year electricity purchase agreement with BC Hydro for its 25-MW Mamquam Power Project.

Run Of River Power Inc. (ROR Power) develops renewable, sustainable energy through its portfolio of run-of-river hydro and biomass projects in British Columbia.

Under the terms of the agreement, ROR Power will supply 68 GWh of firm electricity per year to BC Hydro, resulting in green energy for approximately 9,500 homes in BC, ROR Power reported.

Plutonic Power Corporation and GE Energy Financial Services also recently signed a 40-year electricity purchase agreement with BC Hydro for the 124-MW Upper Toba Valley Hydroelectric Project.

British Columbia has announced a new clean energy plan that calls for increased efficiency and an increase in the amount of energy the province gets from hydropower and other renewable energy sources.

ROR Power will be working with provincial and federal permitting and approval agencies, local communities and its First Nations partners over the next two years.

Construction on the hydro project is scheduled to begin in the second quarter of 2012, with commercial operation set for January 2014. When completed, the Mamquam Power Project will be the company’s second operating run-of-river power plant in BC.

The company also announced that Jako Krushnisky will step down as President and CEO, continuing with ROR Power as chairman of the board. A recruiting firm has been engaged, and a search for a successor is under way.

In speaking about his decision to resign as President and CEO, Mr. Krushnisky said that, following the success of the Mamquam Power Project in BC Hydro’s Clean Power Call, the company was now entering its next phase of growth. “I have determined that this is an appropriate time for me to focus on other aspects of the company’s growth strategy. I will remain president and CEO until we have a successor in place,” he said.

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