Canadian Hydro Developers construction of hydroelectric plant.CALGARY, Alberta--(BUSINESS WIRE)--Jan. 30, 1997--Canadian Hydro Devel (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :KHD.)(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHDVF.) Canadian Hydro Developers Canadian Hydro Developers Inc. TSX: KHD is a Canadian company that operates 12 hydroelectric power sites, 4 wind power sites and one biomass power site in Canada. Canadian Hydro Developers is the Canadian leading supplier of EcoLogo certified power from environmentally sounds , Inc. announces that it will be commencing construction of a hydroelectric plant located near Sudbury, Ontario. Construction activities will commence during the first quarter of 1997 on the "Moose Rapids" project, which is expected to cost $2.6 million. The project will generate cash flow of approximately $0.3 million per year under the terms of a long-term sales contract with Ontario Hydro. First sales to Ontario Hydro are expected in the fall. Canadian Hydro will finance construction of the Moose Rapids hydroelectric project without incurring long-term debt by using existing cash reserves and undrawn un·draw tr.v. un·drew , un·drawn , un·draw·ing, un·draws To draw to one side, as a curtain. Adj. 1. undrawn - not represented in a drawing undelineated - not represented accurately or precisely lines of credit. The Moose Rapids project will increase discretionary cash flow Discretionary cash flow Cash flow that is available after the funding of all positive net present value (NPV) capital investment projects; it is available for paying cash dividends, repurchasing common stock, retiring debt, and so on. by approximately 20 percent because none of the cash flow will be dedicated to long-term debt payments. The Moose Rapids plant will also provide Canadian Hydro with a window on the Ontario electricity market, which is expected to open up to competition in the near term. Canadian Hydro Developers, Inc. is a non-regulated, private sector renewable energy company focused on the development and operation of hydroelectric power plants in Canada. Canadian Hydro's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "KHD". -0- NOTE TO EDITORS: This information has neither been approved or disapproved by the Toronto Stock Exchange. CONTACT: Canadian Hydro Developers Inc., Calgary John Keating, 403/298-0251 or Canadian Hydro Developers Inc., Vancouver Tom Boychuk, 604/681-7610 1-800-557-1545 |
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