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MW Coast Mountain Power Corp

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Share Name Share Symbol Market Type
Coast Mountain Power Corp TSXV:MW TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Fortis Concludes Agreements to Invest in 335-Megawatt Hydroelectric Project in British Columbia

04/10/2010 6:33pm

Marketwired Canada


Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) announced today that the
Corporation, in partnership with Columbia Power Corporation and Columbia Basin
Trust ("CPC/CBT"), has concluded definitive agreements to construct a
335-megawatt ("MW") hydroelectric generating facility (the "Waneta Expansion"),
at an estimated cost of approximately $900 million. The project was announced on
August 26, 2010. The facility is sited near the Waneta Dam and powerhouse
facilities on the Pend d'Oreille River, south of Trail, British Columbia. Fortis
owns a 51% interest in the Waneta Expansion and will operate and maintain the
non-regulated investment when the facility comes into service, which is expected
in spring 2015. Construction is expected to start this fall. 


Fortis Inc. is the largest investor-owned distribution utility in Canada, with
total assets exceeding $12 billion and fiscal 2009 revenues totalling $3.6
billion. The Corporation serves approximately 2,100,000 gas and electricity
customers. Its regulated holdings include electric distribution utilities in
five Canadian provinces and three Caribbean countries and a natural gas utility
in British Columbia. Fortis owns and operates non-regulated generation assets
across Canada and in Belize and Upper New York State. It also owns hotels and
commercial real estate across Canada.


Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the
symbol FTS. Additional information can be accessed at www.fortisinc.com or
www.sedar.com.


Fortis includes forward-looking information in this media release within the
meaning of applicable securities laws in Canada ("forward-looking information").
The purpose of the forward-looking information is to provide management's
expectations regarding the Corporation's future growth, results of operations,
performance, business prospects and opportunities, and it may not be appropriate
for other purposes. All forward-looking information is given pursuant to the
"safe harbour" provisions of applicable Canadian securities legislation. The
words "anticipates", "believes", "budgets", "could", "estimates", "expects",
"forecasts", "intends", "may", "might", "plans", "projects", "schedule",
"should", "will", "would" and similar expressions are often intended to identify
forward-looking information, although not all forward-looking information
contains these identifying words. The forward-looking information reflects
management's current beliefs and is based on assumptions developed using
information currently available to the Corporation's management. The forward
looking information in this media release includes, but is not limited to, the
estimated cost of the Waneta Expansion. Although Fortis believes that these
statements are based on information and assumptions which are current,
reasonable and complete, these statements are necessarily subject to a variety
of risks and uncertainties. For additional information on risk factors that have
the potential to affect the Corporation, reference should be made to the
Corporation's continuous disclosure materials filed from time to time with
Canadian securities regulatory authorities and to the heading "Business Risk
Management" in the MD&A for the three and six months ended June 30, 2010 and for
the year ended December 31, 2009. Except as required by law, the Corporation
undertakes no obligation to revise or update any forward-looking information as
a result of new information, future events or otherwise after the date hereof.


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1 Year Coast Mountain Power Corp Chart

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