“Today’s announcement is consistent with ENMAX’s business strategy that City Council endorsed last fall,” said Al Buchignani, ENMAX interim chief executive officer. “We are expanding our expertise in green power technologies which is a priority for our shareholder, The City of Calgary. Our announcement also supports the Government’s desire to see Alberta companies furthering their expertise in a variety of energy technologies.”

ENMAX is acquiring 99% of the Furry Creek run-of-river hydro-electric facility. The remaining 1% will be retained by the Squamish First Nation. This 11 megawatt facility is located 40 kilometres north of Vancouver.

In addition, ENMAX and Vancouver-based Eaton Power Corporation have announced a business venture to develop run-of-river hydro electricity generation facilities in B.C. Under the agreement, ENMAX will hold a 65% interest and Eaton Power will hold 35% interest in a new company, Hydromax Energy Ltd. Hydromax assets include three run-of-river hydro projects in early stages of development. These will be submitted for consideration in BC Hydro’s upcoming call for power. In addition, Hydromax expects to invest more than $300 million over the next five years developing run-of-river hydro projects.

ENMAX Corporation is celebrating its 100th year of providing Albertans with safe and reliable electricity. A wholly owned subsidiary of The City of Calgary, ENMAX provides electricity, natural gas, renewable energy and value-added services to more than 435,000 residential, commercial and industrial customers in Alberta through its subsidiary companies. In addition, ENMAX owns 50% of Canada’s largest wind farm and has the first and largest green power marketing program of its kind in Canada. For more information, visit our website at enmax.com.