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Swift Power awarded BC Hydro energy purchase agreement


March 20, 2010
By Anthony Capkun

Swift Power Corp.—a Vancouver, B.C.-based independent, run-of-river hydroelectric power company—has been awarded a long-term Electricity Purchase Agreement (EPA) from BC Hydro for the Dasque Cluster hydroelectric project.

The 20 MW project is located 25 km southwest of Terrace, B.C., and is
planned to be in operation by late 2012 (pending receipt of necessary
regulatory approvals and financing). “We look forward to helping the
province achieve its climate change goals and its mandate of energy
self-sufficiency by generating reliable, clean energy from the Dasque
Cluster Facility,” said Swift Power president and CEO Alexi Zawadzki.

Following execution of the EPA, BC Hydro will submit it to the BC
Utilities Commission for review. The company, meantime, will be posting
the necessary performance securities for both the BC Hydro EPA and the
BCTC Interconnection Agreement according to the required schedule.

In the coming months, Swift Power will finalize the selection of an
engineering consultancy to proceed with detailed engineering of the
Dasque Cluster Project, and select a construction contractor. Meantime,
Swift Power is pursuing options for both debt and equity financing in
light of this award.

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