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Brookfield
Power terminates Blue Highlands wind energy contract in the
Town of the Blue Mountains
Prince Wind Energy Project in Sault
Ste. Marie Progressing Toward Completion
TORONTO, July 28, 2006 – Brookfield
Power announced today that it has agreed with the Ontario
Power Authority to terminate its renewable energy supply agreement
for its proposed 49.5 megawatt (MW) wind energy project in
the Town of the Blue Mountains as a result of force majeure.
Given the delays encountered with the municipality’s
development process, Brookfield Power is unable to obtain
the necessary permits to construct the project within the
timelines imposed by the contract. Brookfield Power will not
proceed at the present time with any further permitting activities
for the Blue Highlands Wind Energy Project but will pursue
the development of several other wind power projects within
Ontario.
Positive Progress on Prince Wind Energy Project
The construction of Phases I and II of Brookfield
Power’s 189 MW Prince Wind Energy Project near Sault
Ste. Marie, Ontario, one of the largest wind farms in Ontario,
is proceeding on schedule. When both phases are complete later
this year, the project will deliver enough clean, renewable
energy to power nearly 40,000 homes. Approximately 50 wind
turbine generators have been fully erected to date.
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About Brookfield Power
Brookfield Power comprises the power generating, transmission,
distribution and marketing operations of Brookfield Asset
Management. Brookfield Power has developed and successfully
operated hydroelectric power facilities, primarily in North
America, for almost 100 years. Brookfield Power’s portfolio
comprises almost 3,500 megawatts of capacity and includes
136 hydroelectric power generating stations and 1 pumped storage
facility located on 48 river systems, 2 co-generation facilities
and transmission and distribution assets, principally in the
northeast North America. (See www.brookfieldpower.com for
more details). Brookfield Asset Management Inc. is an asset
manager. Focused on property, power and infrastructure assets,
the company has approximately US$50 billion of assets under
management and is co-listed on the New York and Toronto Stock
Exchanges under the symbol BAM. (See www.brookfield.com for
more details).
Brookfield Power
Meghan Pettipas
Tel: (819) 561-2722 ext. 6634
Email: meghan.pettipas@brookfieldpower.com
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