Business & Finance
Business and Finance
Business and Finance
Fri, August 28, 2009
Thu, August 27, 2009 Plutonic Power Corporation: Plutonic Power Corporation Appoints Mr. Paul Sweeney as President
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2009) - Plutonic Power Corporation (TSX:PCC) announced today has appointed Mr. Paul Sweeney to the position of President effective immediately. Mr. Sweeney's previous role in the company was Executive Vice-President Business Development. Mr. Bruce Ripley, former President and Chief Operating Officer of Plutonic Power will continue in his role as Chief Executive Officer of the Toba Montrose General Partnership (TMGP). This realignment of roles is a reflection of the responsibility of Mr. Ripley in overseeing the delivery of the Toba Montrose project on time and on budget as the partnership nears completion of construction and enters the critical commissioning and operations phase.
"Mr. Sweeney has been a key and productive member of our executive team since 2006," said Plutonic Power's Vice-Chair and CEO, Donald McInnes. "I look forward to continuing to work with both Mr. Sweeney and the rest of our executive team in building Plutonic Power into one of Canada's leading clean energy companies."
In his capacity as President, Mr. Sweeney will be responsible for the day-to-day administration of Plutonic Power's activities, including project development, engineering and permitting.
Plutonic Power is rapidly advancing construction of the Toba Montrose Project through and investment partnership with GE Energy Financial Services. Plutonic and GE Energy Financial Services are considering the acquisition of the fully permitted Dokie Wind Project. Plutonic and GE Energy Financial Services have also jointly made two bids into the BC Hydro 2008 Call Power Call for the Upper Toba Valley and Bute Inlet Hydroelectric Projects.
About Plutonic Power Corporation
Plutonic Power's vision is to provide leadership and create a legacy through the development of renewable, reliable, clean energy projects. Its proposed Green Power CorridorTM, comprised of 42 generation facilities (including the two facilities being constructed by Toba Montrose General Partnership), could have the capacity to meet the annual energy needs of about 660,000 homes and offset more than 4.4 million tons of CO2 emissions every year - the equivalent of taking more than 850,000 cars off the road. Build out of the Green Power CorridorTM, including the current construction of the $660 million, 196 megawatt East Toba River and Montrose Creek run-of-river hydroelectric project, could create approximately 6,500 person-years of employment. Plutonic Power is committed to working in partnership with First Nations, stakeholder groups and local communities in the development of all of its projects. By developing its suite of projects, Plutonic Power will help British Columbia realize its goal of becoming electricity self-sufficient by 2016 utilizing 90% clean domestic generation sources, will create employment opportunities and will play a significant role in the fight against climate change.
