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TBZ Tonbridge Power

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Share Name Share Symbol Market Type
Tonbridge Power TSXV:TBZ 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 -

Tonbridge Power Enters Into Second Anchor Shipper Agreement for Its Green Line Project in Montana

06/04/2010 2:01pm

Marketwired Canada


Tonbridge Power Inc. (TSX VENTURE:TBZ) ("Tonbridge" or the "Company"), is
pleased to announce it has entered into a second agreement with an Anchor
Shipper, Invenergy Wind Development LLC ("Invenergy') which will further the
development of the company's Green Line project in Montana. 


"The execution of the Cooperation Agreement with Invenergy really makes the
commercial case for the Green Line and provides Tonbridge with another very
experienced customer and further development participation and support. We are
very pleased to be working with a developer as reputable and experienced as
Invenergy who installed the very first wind project in Montana a few years ago"
said Johan van't Hof, Tonbridge's Chief Executive Officer. "We are moving
quickly now to develop this line, and undertake the studies to allow us file for
the regulatory permit requirements needed for building." 


The project, referred to as the "Green Line", will be approximately 100 miles in
length and is Tonbridge's second transmission line project. It will run
southwest from the south end of Tonbridge's MATL transmission line, currently
under construction, and connect with Bonneville Power Administration's
transmission system on its 500kV transmission lines at, or west of Townsend, or
at Garrison, Montana. Bonneville's 500 kV lines connect its system with the
Colstrip line and is the major "electricity highway" that runs East to West out
of Montana into the Pacific Northwest region and enables renewable and other
power to reach load centers in that region. 


The total capacity requests now equal 850 MW on the Green Line. The formal
allocation of these capacity requests will occur through a Federal Energy
Regulatory Commission approved process. In this respect, Gaelectric and
Invenergy will be "Anchor Shippers" and will receive their development
contributions back over time, through credits against contracted transmission
tariff charges after the line is in service. To advance projects needing
capacity on the Green Line, Gaelectric, LLC, has recently announced that they
requested 960 MW of transmission capacity on the Bonneville Power Administration
system, and paid the required deposits to support these requests. 


"Gaelectric's reservation on the BPA system confirms their commitment to Montana
wind and to making the Green Line project work" Johan added. "We are very
grateful to both Invenergy and Gaelectric for their support and confidence in us
and we look forward to working with them to bring their needed renewable energy
generation to Pacific Northwest markets requiring it".


Invenergy Wind Development LLC is an affiliate of Chicago-based Invenergy Wind
LLC, a company focused on the development, ownership, operation and management
of large-scale wind energy generation assets in the North American and European
markets. Invenergy companies have approximately 2,000 MW of wind projects in
operation or construction. Invenergy is one of the five largest wind energy
developers in North America. For further information please visit
www.invenergyllc.com.


Gaelectric is a group of companies, each active in the different fields of
Renewable Power Generation and Energy Storage with experienced teams specialized
in all aspects of project planning, permitting, finance, engineering and
management. Gaelectric is active in Northern Ireland, the Republic of Ireland
and North America where Gaelectric operates regional development offices. For
more information about Gaeletric visit: http://www.gaelectric.ie/.


Tonbridge Power Inc., is a Toronto-based developer of electrical transmission
assets, whose principal asset is a 100% interest in Montana Alberta Tie Ltd.
Shares of the Company are traded on the TSX Venture Exchange under the symbol
"TBZ."


Should you wish to receive company notices via email, please notify us at:
info@tonbridgepower.com.


For Further information: Tonbridge Power Inc., www.tonbridgepower.com.

Forward-Looking Information

This news release contains "forward-looking information", within the meaning of
applicable Canadian securities legislation, concerning the Company's prospective
"Green Line" project and matters related thereto. Forward-looking information
includes, but is not limited to, information with respect to the study and
development of new transmission power lines, the allocation of costs,
ascertaining the feasibility of such lines, the allocation of electrical
capacity along such lines and the required steps to develop, approve and
construct such lines, including financing arrangements and related matters.
Generally, this forward-looking information can be identified by the use of
forward-looking terminology such as "proposed", "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "should", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is based on the opinions and estimates of
management at the date the information is made, and is based on a number of
assumptions and subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking information. 


Many of these assumptions are based on factors and events that are not within
the control of the Company and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially from results
anticipated by such forward-looking information include, but are not limited to:
risks related to the outcome of the feasibility work on the prospective
transmission line, the ability of the parties to enter into a development
agreement if the feasibility phase is successful, risks related to ability to
develop, finance and construct transmission lines, delays in obtaining
governmental approvals, permits or project financing, requirements for
additional capital, government regulation, environmental risks as well as those
factors discussed in the section entitled "Risk Factors" in the Company's Annual
Information Form for the year ended December 31, 2008 and its management's
discussion & analysis for the period ended June 30, 2009, available on
www.sedar.com. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information that is
included herein, except in accordance with applicable securities laws.


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