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Sea Breeze Power Corp. is pleased to announce that the United States Army Corps of Engineers has issued a Permit authorizing the installation of the Juan de Fuca Cable Project ("JdF Cable") on United States soil and seabed.
October 9, 2008 - Sea Breeze Power Corp. is pleased to announce that the United States Army Corps of Engineers has issued a Permit authorizing the installation of the Juan de Fuca Cable Project ("JdF Cable") on United States soil and seabed. The Permit represents the conclusion of US Federal and State Permitting requirements for the JdF Cable and is a milestone achievement in the development of the 50 kilometre, 550 MW High Voltage Direct Current Light® ("HVDC Light") international submarine transmission cable.
Sea Breeze Power Corp. is pleased to announce that the United States Army
Corps of Engineers has issued a Permit authorizing the installation of the Juan
de Fuca Cable Project ("JdF Cable") on United States soil and seabed. The Permit
represents the conclusion of US Federal and State Permitting requirements for
the JdF Cable and is a milestone achievement in the development of the 50
kilometre, 550 MW High Voltage Direct Current Light® ("HVDC Light")
international submarine transmission cable.
The Permit is issued by the Army Corps in accordance with the policies of the
U.S. Environmental Protection Agency. A separate certification has also been
issued by the Washington State Department of Ecology, which certifies that the
Project's construction will comply with the strict water quality and pollution
measures regulated by the Department.
The awarding of the Permit is another major milestone in the development of the
JdF Cable following the June 2008 issuance of the Presidential Permit by the
United States Department of Energy.
Sea Breeze Power Corp. CEO Paul Manson said: "The receipt of these Permits is a
tremendous accomplishment for the JdF Cable, and the partnership developing it.
The HVDC Light® technology th at will be utilized offers minimal environmental
risk. It is a preferred alternative to traditional high voltage overhead lines
that often raise concerns related to visual impact and perceived health risks
from fluctuating electromagnetic fields.
"HVDC Light® technology is sited underground and underwater and requires minimal
dredging and disruption to its route. This has allowed us to satisfy the
rigorous requirements of the Federal and State agencies that have issued these
Permits," Manson said.
When installed, the Juan de Fuca Cable will connect Vancouver Island with
Washington State's Olympic Peninsula providing a much needed alternative to the
congested I-5 corridor for the transmission of power between British Columbia
and Washington State. The JdF Cable will create additional opportunities for the
increasingly active West Coast power trading markets.
The Juan de Fuca Cable is being developed through a joint venture between Sea
Breeze Power Corp., Boundless Energy NW, Inc., and United States Power Fund, LP,
a private equity fund managed by Energy Investors Funds ("EIF").
To learn more about the JdF Cable please visit: www.JDFCable.com
About Energy Investors Funds
EIF was founded in 1987 as the first private equity fund manager dedicated
exclusively to the independent power and electric utility industry. Its
consistent, proven investment strategy is to create geographically and
technologically diversified portfolios of electric power-related assets that
provide superior risk-adjusted equity returns with current cash flow and capital
appreciation. As investment managers, EIF seeks to mitigate commodity risk (fuel
and electricity) by focusing primarily on acquiring power assets with long-term
off-take contracts. EIF has mobilized over $3.4 billion in capital raised in
seven funds, and currently manages four private equity funds from its offices in
Boston, New York, and San Francisco. These funds have made over 100 diversified
investments with a comb ined underlying asset value exceeding $7 billion. EIF
controls 4,000 MW of operating power
assets with another 2,200 MW of power assets under development or construction,
including a number of independent transmission projects. For more information
visit www.EIF.com.
About Boundless Energy NW, Inc.
Boundless Energy NW, Inc. is the special purpose vehicle formed by the
principals of Boundless Energy, LLC, a New England-based development firm to
hold their share in the Juan de Fuca partnership. The principals of Boundless
founded the Neptune Regional Transmission System, a 660MW submarine HVDC
transmission system currently supplying 660,000 customers of the Long Island
Power Authority with reliable energy.
About Sea Breeze Power Corp.
Sea Breeze Power Corp. is a Vancouver-based renewable energy company focused on
unlocking British Columbia's enormous but 'stranded' renewable energy potential.
Sea Breeze is presently engaged in the development of utility-scale wind farms,
'run-of-river' hydroelectric projects, and through a joint venture partnership,
the development of state-of-the-art electricity transmission projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Paul B. Manson"
_________________________________
PAUL B. MANSON, President & CEO
For investor information please contact Mr. Joseph Zhu.
Email: JosephZhu@SeaBreezePower.com
Toll Free: 1-866-387-1240 ext.231
Voice: 604-689-2991 ext.231
Fax: 604-689-2990
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