January 30, 2006

Brascan, Ojibway Power authorized to seek approvals to develop waterpower on Crown land

TORONTO, ONT-The Ontario Ministry of Natural Resources (MNR) will allow Ojibway Power and Energy Group and Brascan Power to seek approvals to build hydropower facilities on the Namakan and Aguasabon rivers. Minister David Ramsay said the projects are part of Ontario's plan to expand its supply of clean renewable energy through development of waterpower sites on Crown land. Together, they have the potential to generated 22 megawatts of emission-free power, he noted. The companies will also have the opportunity to bid their electricity production into the Ministry of Energy's request for proposals. The proposed projects must undergo environmental assessments and public review before construction of the waterpower facilities can begin. The development of waterpower sites on Crown land is part of the government's strategy for meeting its target of generating 5% more of Ontario's total energy capacity from new, renewable sources by 2007 and 10% by 2010.

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