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Schneider Power Inc.: Schneider Power Closes Acquisition of Grand Valley Wind Farms

^{Published on 2009-06-03 13:14:40, Last Modified on 2009-06-03 13:15:12 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - June 3, 2009) - Schneider Power Inc. (TSX VENTURE:SNE) announced today that it has completed its acquisition of Ontario-based Grand Valley Wind Farms Inc. from EarthFirst Canada Inc., in partnership with Lands End Corporation, the original developer of the project. The Grand Valley Wind Farms hold three Ontario RESOP contracts for a total of 22 Megawatts of fully-permitted capacity, with an additional 28 MWs of capacity anticipated to be developed under the new Ontario Feed-in Tariff Program. Schneider Power holds a 66% ownership in the joint venture with Lands End Corporation retaining a 34% interest.

About Schneider Power:

Schneider Power Inc. is one of Canada's premier renewable energy companies, with a portfolio in excess of 1,000 MW clean electricity generation development projects and advanced exploration projects located across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America. Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Schneider Power to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.