Genalta Power to Develop Second 13.5 MW Clean Fuel to Electricity Project for
Pengrowth Energy Corporation
CALGARY, Nov. 7, 2012 /CNW/ - Genalta Power Inc. announces the signing of a
second 20 year power purchase agreement with Pengrowth Energy Corporation to
convert clean fuel into electricity at their Carson Creek Gas Plant site.
This project is a simple cycle turbine-generator which will use on site clean
fuel to dispatch and capture the most profitable electricity prices. This
system was specifically designed for the Carson Creek Gas Plant and Oil
Production operations to optimize the output and enhance its competitiveness
by significantly reducing operating costs.
"We anticipate a successful long term arrangement with Pengrowth Energy
Corporation at their Carson Creek Gas Plant." said Graham Illingworth, Genalta
Power CEO, "We will convert clean fuel to electricity and assist Pengrowth in
reducing the overall operating costs of this plant."
The forecasted commissioning is the end of September 2013 at which time we
will sell the power back to Pengrowth Energy Corporation over a 20 year
About Genalta Power
Genalta Power is a privately held Canadian corporation in the business of
developing, owning and operating independent power plants that produce and
sell environmentally-friendly electricity from waste and clean energy sources.
Genalta capitalizes on opportunities in the independent power market by
actively pursuing the development of dependable, cost-effective and
environmentally responsible power generation facilities. Genalta pursues a mix
of waste heat recovery, waste fuel gas, waste pressure and gas to power
projects. Genalta is developing projects in strategic regions of North America
with an emphasis on the oil and gas industry. Visit www.genaltapower.com for
Cautionary Statement Regarding Forward-Looking Information
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information" or "forward-looking statements" which involve known and unknown
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the development, construction and operation of greenhouse gas based projects
and speaks only as of the date of this news release. Forward-looking
information involves significant uncertainties, should not be read as a
guarantee of future performance or results, and will not necessarily be an
accurate indication of whether or not such results will be achieved. A number
of factors could cause actual results to differ materially from the results
discussed in the forward-looking information. Although the forward-looking
information in this news release is based upon what management of the company
believes are reasonable assumptions, the company cannot assure investors that
actual results will be consistent with this forward-looking information. This
forward-looking information is provided as of the date of this news release,
and, subject to applicable securities laws, the company assumes no obligation
to update or revise such information to reflect new events or circumstances.
Genalta Power Inc.
Vice President, Finance
Telephone: (403) 237-9740
SOURCE: Genalta Power Inc.
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CO: Genalta Power Inc.
NI: CHM MNG OIL UTI NP ORDER
-0- Nov/07/2012 19:00 GMT
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