Sea Breeze Power Corp. is pleased to announce that the United States Army Corps of Engineers has issued a Permit authorizing the installation of the Juan de Fuca Cable Project ("JdF Cable") on United States soil and seabed. The Permit represents the conclusion of US Federal and State Permitting requirements for the JdF Cable and is a milestone achievement in the development of the 50 kilometer, 550 MW High Voltage Direct Current Light® ("HVDC Light") international submarine transmission cable.
The Permit is issued by the Army Corps in accordance with the policies of the U.S. Environmental Protection Agency. A separate certification has also been issued by the Washington State Department of Ecology, which certifies that the Project's construction will comply with the strict water quality and pollution measures regulated by the Department.
The awarding of the Permit is another major milestone in the development of the JdF Cable following the June 2008 issuance of the Presidential Permit by the United States Department of Energy.
Sea Breeze Power Corp. CEO Paul Manson said: "The receipt of these Permits is a tremendous accomplishment for the JdF Cable, and the partnership developing it. The HVDC Light® technology that will be utilized offers minimal environmental risk. It is a preferred alternative to traditional high voltage overhead lines that often raise concerns related to visual impact and perceived health risks from fluctuating electromagnetic fields."
"HVDC Light® technology is sited underground and underwater and requires minimal dredging and disruption to its route. This has allowed us to satisfy the rigorous requirements of the Federal and State agencies that have issued these Permits," Manson said.
When installed, the Juan de Fuca Cable will connect Vancouver Island with Washington State's Olympic Peninsula providing a much needed alternative to the congested I-5 corridor for the transmission of power between British Columbia and Washington State. The JdF Cable will create additional opportunities for the increasingly active West Coast power trading markets.
The Juan de Fuca Cable is being developed through a joint venture between Sea Breeze Power Corp., Boundless Energy NW, Inc., and United States Power Fund, LP, a private equity fund managed by Energy Investors Funds ("EIF").
To learn more about the JdF Cable please visit: www.JDFCable.com
About Energy Investors Funds
EIF was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. Its consistent, proven investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation. As investment managers, EIF seeks to mitigate commodity risk (fuel and electricity) by focusing primarily on acquiring power assets with long-term off-take contracts. EIF has mobilized over $3.4 billion in capital raised in seven funds, and currently manages four private equity funds from its offices in Boston, New York, and San Francisco. These funds have made over 100 diversified investments with a combined underlying asset value exceeding $7 billion. EIF controls 4,000 MW of operating power assets with another 2,200 MW of power assets under development of construction, including a number of independent transmission projects. For more information visit www.EIF.com.
About Boundless Energy NW, Inc.
Boundless Energy NW, Inc. is the special purpose vehicle formed by the principals of Boundless Energy, LLC, a New England-based development firm to hold their share in the Juan de Fuca partnership. The principals of Boundless founded the Neptune Regional Transmission Sytem, a 660 MW submarine HVDC transmission system currently supplying 660,000 customers of the Long Island Power Authority with reliable energy.
About Sea Breeze Power Corp.
Sea Breeze Power Corp. is a Vancouver-based renewable energy company focused on unlocking British Columbia's enormous but 'stranded' renewable energy potential. Sea Breeze is presently engaged in the development of utility-scale wind farms, 'run-of-river' hydroelectric projects, and through a joint venture partnership, the development of state-of-the-art electricity transmission projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Paul. B. Manson"
__________________________ Paul B. Manson, President and CEO For investor information please contactMr. Joseph Zhu. Email:JosephZhu@SeaBreezePower.com Toll Free: 1-866-387-1240 ext.231 Voice: 604-689-2991 ext.231 Fax: 604-689-2990
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