Canada’s Government Announces $16.5 Million to Kettles Hill Wind Energy Project

CALGARY - The Honourable Gary Lunn, Minister of Natural Resources, today announced that Kettles Hill Wind Energy Inc., a subsidiary of Creststreet Kettles Hill Windpower LP, will be the first company to receive funding under the ecoENERGY for Renewable Power initiative.

“Canada has huge reserves of fossil fuels, but we have to manage those resources wisely to protect the health of our economy and of our environment for the long term,” said Minister Lunn. “That is why our Government has made a strong commitment to increasing Canada’s supply of clean, renewable energy. By supporting the Kettles Hill project, we’re turning that commitment into action and results for Canadians.”

Kettles Hill Wind Energy Inc. is completing construction of a 63-megawatt wind-power facility located five kilometres east of Pincher Creek, Alberta. When in full operation, the project is expected to produce 200,000 megawatt (MW) hours of emissions-free power each year, enough to power more than 27,000 average Alberta homes.

“Creststreet is very pleased to be nearing completion of the Kettles Hill wind-power facility,” said Robert Toole, President and Chief Executive Officer of Creststreet Kettles Hill LP. “The support we’re receiving from ecoENERGY for Renewable Power has been important to the economic viability of the project, and we applaud the federal government’s investment in green energy.”
Businesses, municipalities, institutions and organizations are eligible to apply for funding under ecoENERGY for Renewable Power, announced by the Government in January 2007. The initiative provides $1.48 billion to increase Canada’s supply of clean electricity from renewable sources such as wind, biomass, low-impact hydro, geothermal, solar photovoltaic and ocean energy. It will encourage the production of 14.3 terawatt hours of new electricity from renewable energy sources, enough electricity to power about one million homes.

Creststreet is a leading developer and operator of renewable-energy projects across Canada. In addition to Kettles Hill, Creststreet also operates the 54-MW Mount Copper wind project located near Murdochville, Quebec, and the 30-MW Pubnico Point wind project located near Yarmouth, Nova Scotia. Creststreet is expecting to start construction on the 180-MW Dokie Wind Project located near Chetwynd, B.C. in 2008, which will bring the total wind-generating capacity under construction or in operation by Creststreet to more than 300 MW.