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CALGARY, ALBERTA--(CCNMatthews - Aug. 28, 2006) - AltaGas Income Trust (AltaGas or the Trust) (TSX:ALA.UN) and Aeolis Wind Power Corporation (Aeolis) today announced that Bear Mountain Wind Limited Partnership (BMWLP) has signed a 25-year electricity purchase agreement with BC Hydro for the Bear Mountain Wind Park. The 120 MW wind project, located near Dawson Creek, British Columbia will include 60 turbines and is expected to be fully operational in 2009.
"AltaGas is pleased to partner with Aeolis and move forward with our first wind power project," said David Cornhill, Chairman, President and CEO of AltaGas. "We are continuing to work together to bring additional strategic partners into the project."
"Aeolis is very excited to see the Bear Mountain Wind Park becoming a reality and we look forward to adding to B.C.'s renewable generation capacity," added Juergen Puetter, President of Aeolis.
AltaGas, on behalf of BMWLP, has posted a letter of credit for approximately $7 million with BC Hydro as performance security. No significant capital payments are anticipated by the partnership in the near-term. The project is subject to various regulatory and environmental approvals.
Aeolis is a private, B.C.-based wind energy development company focused on establishing large-scale wind power generation facilities in western Canada. As a partner in BMWLP with AltaGas and locally-based Peace Energy Cooperative, Aeolis developed the Bear Mountain Wind Park bid for the BC Hydro Fiscal 2006 Open Call for Power. For more information, please see www.aeoliswind.com.
AltaGas Income Trust is one of Canada's largest and fastest growing integrated energy infrastructure and services organizations. The Trust creates value by growing and optimizing assets and services across the energy value chain to serve North America's energy demand. Since 1994, AltaGas Income Trust has expanded its business to include natural gas gathering, processing and transmission, extraction of ethane and natural gas liquids, power generation, marketing of natural gas and natural gas liquids, as well as retail energy services to commercial, industrial and institutional end-users across Canada.
AltaGas Income Trust's units are listed on the Toronto Stock Exchange under the symbol ALA.UN. The Trust is included in the S&P/TSX Composite Index, the S&P/TSX Capped Income Trust Index and the S&P/TSX Capped Energy Trust Index. |
