EDMONTON, Alberta – May 6, 2009 – EPCOR Power L.P. (TSX: EP.UN) (the Partnership) and EPCOR Power Equity Ltd. (TSX: EPP.PR.A) (the Corporation), a subsidiary of the Partnership announced the completion of its repowering project for its North Island facility (North Island).
North Island is a 40 megawatt, natural gas-fired combined heat and power facility located in San Diego, California. The project involved the replacement of its GE LM5000 natural gas turbine with a more efficient GE LM6000 unit.
Final capital costs for the project was approximately U.S. $17.6 million, lower than the original estimated cost of U.S. $19 million. The repowering project started on March 20, 2009 once the required construction permit was received and was completed 42 days later (3 days ahead of schedule) on May 1st, in time for the summer peak demand season in Southern California.
“The repowering of North Island was completed slightly ahead of schedule and under budget”, said Brian Vaasjo, President of the General Partner of EPCOR Power L.P. “Not only does the LM6000 gas turbine provide many benefits such as decreased water usage and improved reliability and efficiency, it also benefits the environment through a lower nitrogen oxide requirement. The North Island facility is now fully operational for the start of its peak summer revenue period where higher capacity payments and bonuses are achieved through high plant availability.”
Completion of the North Island project and the current enhancements to the Partnership’s two North Carolina facilities continue to demonstrate the Partnership’s operational and commercial expertise.
About EPCOR Power L.P.
Established in 1997, EPCOR Power L.P. is a limited partnership organized under the laws of the Province of Ontario. The Partnership’s portfolio consists of 20 wholly-owned power generation assets located in Canada and the United States, a 50.15 per cent interest in a power generation asset in Washington State, and an overall 15.4 per cent equity interest in Primary Energy Recycling Holdings LLC (PERH). The Partnership’s assets have a total net generating capacity of 1,464 megawatts and more than four million pounds per hour of thermal energy. PERH wholly owns four recycled energy assets in the United States with an aggregate generation capacity of 283 megawatts and nearly two million pounds per hour of thermal energy, and has a 50 per cent interest in a pulverized coal facility. EPCOR USA Ventures LLC, formerly Primary Energy Ventures LLC, a wholly-owned subsidiary of the Partnership, manages and operates these facilities for PERH. For more information on the Partnership, please visit: http://www.epcorpowerlp.ca/.
About EPCOR Power Equity Ltd.
The Corporation was incorporated under the laws of the Province of Alberta on June 26, 1998 and is a subsidiary of the Partnership. The Corporation operates as a holding company and indirectly holds all of the Partnership’s business and power generation and other assets in the United States, including the Partnership’s Castleton, Curtis Palmer, Manchief, Frederickson, Naval Station, North Island, Naval Training Center, Oxnard, Greeley, Kenilworth, Roxboro, Southport and Morris power generating facilities. These facilities have a total generating capacity of approximately 1,144 megawatts (representing approximately 78 per cent of the total generating capacity of the Partnership’s assets) and more than four million pounds per hour of thermal energy (representing 100 per cent of the total thermal energy capacity of the Partnership’s assets). In addition, the Corporation holds, through a wholly-owned subsidiary, the Partnership’s overall 15.4 per cent equity interest in PERH. For more information on the Corporation, please visit: http://www.epcorpowerlp.ca/.
For more information, please contact:
Media inquiries: Tim LeRiche (780) 969-8238
Unitholder and analyst inquiries: Randy Mah (780) 412-4297 / (866) 896-4636 (toll-free)