Toronto, Ontario, March 17, 2010 – CPV Canada Development ULC (“CPV”) and the Mississaugas of the New Credit First Nation (“New Credit”) today were pleased to announce they have signed a community agreement. This agreement begins a long?term working relationship between the two parties.
The agreement calls for communication and engagement in areas that relate to CPVprojects and activities, including employment and business opportunities.
“This is the beginning of a positive relationship that will be a benefit to our First Nation for a long time. New Credit will have the opportunity to benefit from training, employment and business ventures. It is all about building relationships, communicating openly and the most important is working together cooperatively,” said Bryan LaForme, Chief of the Mississaugas of the New Credit First Nation.
“Community partnership is a focus for our company,” said Gary Lambert, CPV President. “This community agreement lays out the foundation for what we believe will be a lasting and fruitful relationship between the Mississaugas and our clean energy company.”
CPV is currently working in the region on the CPV Nanticoke Energy Centre: a proposed 1,200 MW combined?cycle natural gas?powered electric generating facility that is being developed in Haldimand County, Ontario.
CPV Nanticoke is projected to create over 600 local construction jobs over a 30?36 month construction period and inject upwards of $200 million into the local labour market. The total private investment footprint when considering the power plant, natural gas pipeline, and associated infrastructure, is expected to be in excess of $2 billion. The facility will enable much?needed natural gas infrastructure to supply manufacturing needs, employment areas, and residential and commercial consumption in Haldimand County, Six Nations of the Grand River Territory and Mississauga of the New Credit.
The Nanticoke Energy Centre has received all relevant local planning consents and approvals, and is in advanced stages of the Environmental Assessment process. CPV Canada Development ULC, an affiliate of Competitive Power Ventures, Inc., is advancing a broad portfolio of wind and natural?gas generation projects across North America. Led by a blue chip management team and the financial backing of the
investment fund Warburg Pincus, CPV is fast becoming a leader in the development of renewable energy.
For more information about the project and CPV please go to www.cpv.com