VANCOUVER, BC – Swift Power Corp. (“Swift Power” or the “Company”) is pleased to announce that it has posted the performance security required by BC Hydro for the execution of the long-term Electricity Purchase Agreement (EPA) recently awarded for the 20 MW Dasque Cluster Project. The performance security is in the form of a letter of credit obtained under favourable commercial rates. The EPA will be submitted to the British Columbia Utilities Commission for review under Section 71 of the Utilities Commission Act.
Swift Power is a Vancouver BC-based development-stage, independent, run-of-river hydroelectric power company. Swift Power’s business is to develop renewable power projects in BC and potentially in other provinces of Canada and internationally. Swift Power has rights to nine water licence applications filed with the British Columbia government regarding several sites on various creeks in BC. Additional information about Swift Power is available on its website at www.swiftpower.ca.
For further information please contact:
Swift Power Corp.
Alexi Zawadzki
President and CEO
Tel: 604-637-6393
This news release was prepared by management of Swift Power, which takes full responsibility for its contents. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.