VANCOUVER, Jan. 26, 2011 /CNW/ - Run of River Power Inc. (TSX-V: ROR) ("ROR Power" or "the Company") today announced its Suskwa and Tsilhqot'in Power projects are no longer under consideration in BC Hydro's Bioenergy Phase 2 Call. The Company will continue exploring options with its First Nations partners to move these projects forward.
Because these projects are no longer under consideration in BC Hydro's Bioenergy Phase 2 Call, and as outlined in the Company's financial statements, 1,630,047 shares of ROR Power held in escrow for the previous owners of Pacific Northwest Biomass Corp. and Western Biomass Corp. have been cancelled and returned to treasury.
About Run of River Power Inc.
Run of River Power Inc. develops renewable, sustainable energy through its portfolio of run-of-river and biomass projects. The Company operates an Eco Logo© certified hydroelectric power generation station at Brandywine Creek, near Whistler, BC that generates cash flow under a 20-year contract with BC Hydro. ROR Power is well positioned for profitable growth through power generation initiatives that include its 25 MW Skookum Creek Power Project, awarded an Electricity Purchase Agreement by BC Hydro in 2010. ROR Power's total development potential of 715 MW represents a significant opportunity to help BC meet its rising demand for clean, sustainable power and achieve energy self sufficiency by 2016.
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