CPV Nanticoke Energy Centre Issues Statement of Completion

TORONTO, ONTARIO--(Marketwire - March 24, 2011) - CPV Nanticoke Energy L.P. ("CPV") announced today that it has issued the Statement of Completion to the Ministry of Environment ("MOE") to confirm the completion of the Environmental Screening Process for the Nanticoke Energy Centre, a proposed 1,200 MW power generation facility located in Haldimand County, Ontario.

The project has been under development since 2007 and could be in-service by 2015. With this notification to the MOE, CPV has completed the Environmental Screening Process as required in the Environmental Assessment Act (1998). This environmental review—a process which began in December 2007—is a major milestone for the project. Subject to receipt of other approvals and a power purchase contract from the Ontario Power Authority, CPV would proceed with construction of the facility.

"We are very excited about issuing the Statement of Completion to the Ministry for our CPV Nanticoke Energy Centre," said CPV Chairman Doug Egan. "We are grateful to the many people who worked so diligently through this environmental review process to craft approaches and solutions that helped create a truly outstanding project. When constructed, CPV Nanticoke will be one of the most environmentally benign, technologically-advanced generating stations across Canada."

The proposed CPV Nanticoke Energy Centre is a highly-efficient, combined-cycle ("two-on-one") natural gas-powered electric generating station proposed for 15 hectares (ha) of an 80 ha property in Haldimand County. The facility is designed to "ramp-up" and "ramp-down" quickly and efficiently to support power grid variations such as those inherent with wind and solar resources. The project is comprised of two 600 MW blocks of capacity. This means the project can be phased in with the first 600 MWs constructed immediately while allowing for expansion of the remaining 600 MW of capacity.

The project has enjoyed widespread community support both for its outstanding environmental profile—it supports the phase out of coal-fired generation and expansion of renewable resources--and it creates significant economic opportunity for the region. CPV has worked closely with local governments, Six Nations of the Grand River, and Mississaugas of the New Credit First Nations to build strong local ties to maximize these benefits for the entire region.

It is estimated the project will create 1200 construction jobs over a three-year period with the entire community seeing benefits through a significant increase in economic activity. With important local companies like Esso and U.S. Steel dependent upon reliable, efficiently priced electric power, the Nanticoke Energy Centre provides important energy infrastructure to retain and attract the types of manufacturing sector businesses on which the region is so dependent for jobs. 

"CPV's core mission is driven by the belief that visionary companies can be positive agents of change, both environmentally and economically, for the communities in which we operate," said Egan. "The Nanticoke Energy Centre is a perfect example of how this approach can create a win-win-win situation for all involved."

CPV has been building a very active presence across Canada over the past five years. In addition to developing natural gas projects, CPV acquired a portfolio of wind development projects spanning seven provinces from Interwind (formerly known as SkyPower), a Toronto-based renewable development company. CPV's Canadian office is located in Toronto.

The Ontario Ministry of the Environment is responsible for reviewing major electric generating projects such as CPV Nanticoke to ensure that the environment is not adversely affected by the facility. As required under the Environmental Assessment Act 1998, each completed Environmental Review Report focuses on site specific characteristics relevant to each proposal and provides for stakeholder engagement as an integral part of this process to ensure protection of human health and the natural environment. For more on the Environmental Assessment process, visit the Ministry's website at:

http://www.ene.gov.on.ca/en/business/cofa/index.php 

For more information about the Nanticoke Energy Centre project and CPV, please visit the following links:

www.cpvnanticoke.ca and

www.cpv.com

CPV: Energizing North America's Future

Competitive Power Ventures, Inc. (CPV) is dedicated to increasing North America's sustainability; both economically and environmentally by using domestically-available energy sources, like wind, solar and natural gas. CPV's corporate mission is built around a belief that progressive companies can be powerful agents of change for a better world and a cleaner environment. To this end, we have focused our core activities around developing and operating energy facilities that can make a significant difference in improving the environments and economic well-being of a region.

Headquartered in Silver Spring, MD, with offices in Toronto, Braintree, MA and San Francisco, CA, the company currently has 5,500 megawatts (MWs) of clean, natural gas generation projects in various stages of development across North America. The company's Asset Management division has more than 4,900MWs of natural gas generation under management and is currently expanding its expertise into ethanol plant management. CPV Renewable Energy Company (CPV REC) is currently developing 5,700 MWs of wind power and photovoltaic projects across the U.S. and Canada. Find out more at www.cpv.com.