TORONTO, Feb 27, 2007 -- CCNMatthews

 

Schneider Power Inc., a leading Canadian owner and builder of renewable energy generation projects, announced today that it has launched the development and expansion of four new wind farms across the Province for a total capital cost of $90 million dollars.

Schneider Power intends to develop and construct three new 10 Megawatt, low-impact wind farms across the Province, one adjacent to Highway 400 near the Town of Innisfil, "The Highway 400 Wind Farm," one near the Town of Arthur, "The Arthur Wind Farm," and one near the Town of Trout Creek, "The Trout Creek Wind Farm." In addition to this Schneider Power also intends to expand the Providence Bay/Spring Bay Wind Farm to its full 11.6 MW capacity by end of 2008. Collectively these wind farms represent a total of 41.6 MW of installed capacity and will produce 8.3 million kilowatt-hours of electricity annually, enough to power an equivalent of 11,000 homes.

In 2006 Schneider Power successfully established its presence in Ontario with the construction of The Providence Bay/Spring Bay Wind Farm, on Manitoulin Island. It is Canada's most technologically advanced small-scale wind power generation project and one of the first Wind Farms in Ontario to be built solely with wind turbine generators from German manufacturer Enercon GmbH.

"Today's announcement by the Province has given us the confidence to continue to make a strong commitment to Renewable Energy in Ontario," said Thomas Schneider, CEO, Schneider Power Inc. "This is the next step in building on a proven growth strategy for our Company and it brings us closer to our goal of 500 MW installed across Canada by 2010 -- more than double our previous production capacity," he said.

The accelerating demand for clean electricity has allowed Schneider Power to grow rapidly in the past three years. With developments of power projects in Manitoba, Nova Scotia and Ontario totaling in excess of 500 MW, the Company hopes to establish itself as one Canada's leading green electricity generators. Headed by the Chairman, Bernd Schneider, the Schneider family has over 115 years of experience in developing clean, renewable energy. Schneider Power is a leader in applying new environmentally friendly technologies and is a member of the United Nations Global Compact.

About Schneider Power Inc.

Schneider Power Inc. is a 100 percent green electricity generator with facilities in Canada and Germany that generate electricity exclusively from small-scale, low-impact wind power projects who meet or exceed the federal government's EcoLogo standard for renewable energy. Schneider Power intends to invest heavily over the next three years to increase its presence in Ontario by increasing the nameplate capacity of its planned Ontario developments to more than 41.6 Megawatts, with plans for a further 500 MW of green electricity generation installed across Canada by 2010. Visit Schneider Power on the web at www.schneiderpower.com .

SOURCE: Schneider Power Inc.

News Provided By