Business & Finance
Business and Finance
Business and Finance
Thu, August 11, 2011
Wed, August 10, 2011 ROR Power Posts Record Production at Brandywine Hydroelectric Facility
VANCOUVER, Aug. 10, 2011 /CNW/ - Run of River Power Inc. ("ROR Power" or the "Company") (TSX-V: ROR) is pleased to announce that its Brandywine hydroelectric facility achieved record production during June and July 2011.
The facility's July production was 5,712 MWh, beating the previous monthly record of 5,483 MWh set in June. The increase in production represents an overall operating improvement of 9.8% over the previous two-month record set in 2007. This increase is directly attributable to plant optimization and implementation of a new operating contract.
"We've placed a strong focus on performance enhancements to maximize production at Brandywine and it's paying off," stated Richard Hopp, ROR Power's President and CEO.
The Company's overall strategic focus includes maximizing revenue generation, reducing G&A costs and increasing value for its shareholders through the development of its run of river power generating portfolio.
"In executing on our core strategies we've improved performance at Brandywine, streamlined our management team and reduced our G&A costs by $500,000 a year. Overall, I'm really pleased with the progress we've made and look forward to sustained progress as we continue seeking ways in which to increase shareholder value," concluded Hopp.
About Run of River Power Inc.
ROR Power develops renewable, sustainable energy through its portfolio of clean energy 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 Power Project, awarded an Electricity Purchase Agreement by BC Hydro in 2010. ROR Power's total development potential in excess of 600 MW represents a significant opportunity to help BC meet its rising demand for clean, sustainable power and achieve energy self-sufficiency by 2016.
Forward-Looking Statements
Certain information regarding the Company set forth in this press release, including management's assessment of the Company's future plans and operations contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the completion of the private placement, the impact of general economic conditions, industry conditions, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The Company's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide any benefits to the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
