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Sprott Power Corp. Announces Acquisition of 100 MW Alberta Development Project

^{Published on 2011-10-06 04:07:15 - Market Wire}
 

TORONTO, Oct. 6, 2011 /CNW/ - Sprott Power Corp. ("Sprott Power" or the "Company") (TSX: SPZ), a developer, owner and operator of renewable energy projects, today announced the acquisition of the rights to a 100 MW wind energy development project near Fort MacLeod, Alberta.  This project is in addition to the 40 MW wind energy development project Sprott Power acquired during the second quarter of 2011, bringing the Company's total development capacity in Alberta to 140 MW.

"The demand for electricity in the Alberta market is expected to grow at 2.9% per year, on average, over the next ten years," said Jeff Jenner, President and CEO of Sprott Power.  "Sprott Power is focused on building clean renewable projects to help meet the increasing energy demand in this growing market."

About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX: SPZ) Canadian-based company dedicated to the development, owning and operating of renewable energy projects. Through project development efforts, acquisitions, partnerships and joint ventures, Sprott Power provides its shareholders with income and growth from the renewable power generation sector of the energy industry.

Forward-Looking Statements
Certain information contained in this press release may constitute "forward-looking information" including the ability of Sprott Power to successfully develop the projects acquired.  This information reflects Sprott Power's current beliefs with respect to future events and is based on information currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information including, without limitation, the risks listed under the heading "Risk and Uncertainties" in Sprott Power's Management's Discussion and Analysis of Financial Results dated June 13, 2011. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this release. Although forward-looking information contained in this release is based upon what Sprott Power believe to be reasonable assumptions, management cannot assure investors that actual results, performance or achievements will be consistent with this forward-looking information. The forward-looking information is made as of the date of this release and Sprott Power does not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.