July 12, 2007

PLUTONIC POWER CORP.

One of the largest equipment moving operations in British Columbia recently saw 25,000 tonnes of machinery, materials and supplies loaded on barges destined for the $600 million green power plant in the Toba Valley, 238 nautical miles away.

Plutonic Power project gets underway

Project will create more than 300 jobs over 3 years

PETER MITHAM

correspondent

VICTORIA, BC

A massive staging of materials and equipment at the yard of Peter Kiewit and Sons in Richmond, British Columbia is a prime illustration of the volume of business the B.C. construction sector is handling these days.

A total of 25,000 tonnes of supplies and equipment were brought together for one of the single largest operations the province has seen since the early 1990s.

Kiewit has handled shipments associated with the Diavik diamond mine in the Northwest Territories and the Voisey’s Bay nickel mine in Labrador, but Kiewit area manager Paul Wearmouth said the current shipment is on a scale not seen in B.C. in at least 10 to 15 years.“This is the best market I’ve seen,” said Wearmouth, who has over two decades of experience in the business.

“It’s probably one of the strongest markets in North America right now.”

The shipment, destined for the first phase of a proposed “green power corridor” that Vancouver-based Plutonic Power Corp. plans to build in the Toba Valley and surrounding area, is equivalent to 20 trailer truck loads.

PLUTONIC POWER CORP.

A barge carrying construction equipment and supplies is off-loaded at a staging site on the Powell River. General contractor Peter Kiewit and Sons will have to build 25 km of road, including 16 bridges to reach the main construction site where a new green power generating station will be built for the Plutonic Power Corp.

Transported 238 nautical miles by barge to the Toba Valley, a remote destination approximately 150 km north of Powell River, the shipment will kick-start a three-year construction project valued at upwards of $600-million and employing 300 people. Kiewit is the general contractor, which currently employs 90 people.

Kiewit’s first order of business is building 25 kilometres of road, including bridges, to the site of the planned run-of-river power generating stations on the East Toba River and Montrose Creek. When completed, they will generate 196 megawatts of power. A camp accommodating 240 workers will then be established to replace the floating camp that currently exists.

Work on actual installations will begin next year, after basic infrastructure providing access to the sites is complete. There will ultimately be 65 km of road and 11 major bridges, some established along former logging roads.

Wearmouth expects Kiewit to see additional power projects come forward in the coming months. BC Hydro has been seeking independent power producers to supplement the output of its own generating stations, and that’s meant opportunities for Plutonic and other companies.

Indeed, Plutonic plans to seek permission for stations totalling upwards of 1,000 megawatts of generating capacity when BC Hydro calls for new independent power projects this fall.

Run-of-river projects such as Toba-Montrose are particularly desirable, as Victoria requires all new power stations in the province to be carbon-neutral. That means they can’t burn the fossil fuels that generate greenhouse gases and contribute to global warming. Run-of-river projects, which generate power based on available stream flows, are one source of clean energy.

The extensive infrastructure required for the Toba-Montrose project also promises to contribute to the economic stability of local First Nations by facilitating logging and eco-tourism activities, said Donald MacInnes, president of Plutonic.

He said opportunities also exist for members of the local Klahoose and Sliammon First Nations to participate in construction, while culinary trades students in Powell River School District 47 will enjoy work experience in camp operations.

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