AltaGas' Bear Mountain Wind Park Begins Delivering Power
CALGARY, ALBERTA--(Marketwire - Aug. 6, 2009) - AltaGas Income Trust (AltaGas or the Trust) (TSX:ALA.UN) today announced that the first of 34 Enercon E-82 turbines being erected at its 102-megawatt (MW) Bear Mountain Wind Park was completed ahead of schedule and is delivering power into British Columbia's electrical grid. "British Columbia has an abundant supply of clean, renewable energy, including widely distributed wind resources like those at Bear Mountain," said Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources. "Wind, along with run-of-river, biomass, solar, tidal and other forms of clean, renewable energy, are helping B.C. become electricity self-sufficient while decreasing our greenhouse gas emissions. By diversifying our energy mix, we can ensure a steady, affordable and clean supply of electricity for British Columbians." "This is an important milestone for AltaGas and for renewable power in British Columbia," said David Cornhill, Chairman and CEO of the Trust. "AltaGas is committed to growing its renewable power generation capacity. With 1,500 MW of wind power opportunities and an additional 400 MW of run-of-river power opportunities under study or development, AltaGas is well positioned to be a leader in clean energy generation. The Bear Mountain Wind Park demonstrates our ability to meet complex project development on time and on budget. It has been a delight to work with the people of Dawson Creek and the various governments to bring this long-term, clean, renewable wind power to British Columbia." Owned and operated by AltaGas, the $200 million project is on track to become British Columbia's first fully operational wind park. To date 24 of the 34 towers have been erected and are awaiting installation of the turbine blades. Scheduled for full-scale power delivery in November 2009, the project is expected to meet or beat that power delivery target. Under the Government of Canada's ecoENERGY for Renewable Power program, the project will receive a one cent per kilowatt-hour incentive over the next ten years, in accordance with the terms of the agreement. To view photos of construction, visit: www.altagas.ca and click on the Bear Mountain link on the homepage. AltaGas Income Trust is one of Canada's largest and fastest growing energy infrastructure organizations. The Trust creates value by acquiring, growing and optimizing gas and power infrastructure, including a focus on renewable energy sources. AltaGas Income Trust's units are listed on the Toronto Stock Exchange under the symbol ALA.UN. The Trust is included in the S&P/TSX Composite Index, the S&P/TSX Income Trust Index and the S&P/TSX Capped Energy Trust Index. This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Trust or an affiliate of the Trust, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Trust's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Trust's public disclosure documents. Many factors could cause the Trust's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Trust does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Media: AltaGas Income Trust Adrianne Lovric (403) 691-9873 Email: firstname.lastname@example.org or Investment Community: AltaGas Income Trust Sheena McKellar (403) 691-9855 Email: email@example.com or AltaGas Income Trust Investor Relations 1-877-691-7199 Email: firstname.lastname@example.org Website: www.altagas.ca