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Sea Breeze Power Corp.: Strait of Juan de Fuca Transmission Cables; September 14-15, 2005 Launch of 'Open Season'.


VANCOUVER, British Columbia -- Sea Breeze Power Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
 VENTURE:SBX SBX Snowboard Cross
SBX Sea-Based X-Band Radar (missile defense)
SBX Sports Bet Express
SBX Sodium Borate (wood preservative treatment) 
) -

Auction for 1100 MWs of Capacity on Proposed New International HVDC HVDC High Voltage Direct Current  Light(TM) Transmission Lines between Washington State and British Columbia

Sea Breeze Power Corp., on behalf of Sea Breeze Pacific Juan de Fuca Juan de Fu·ca   , Strait of

A strait between northwest Washington State and Vancouver Island, British Columbia, Canada, linking Puget Sound and the Strait of Georgia with the Pacific Ocean.
 Cable, LP is pleased to announce that an "Open Season" for 550 MW each of transmission capacity and ancillary services made available via two new proposed submarine cables across the Strait of Juan de Fuca The Strait of Juan de Fuca is the principal outlet for the Georgia Strait and Puget Sound, connecting both to the Pacific Ocean. It provides part of the International Boundary between the United States and Canada. , is scheduled to commence on September 14, 2005. Two conferences for potential bidders will be held to kickoff the Open Season, one in Vancouver, BC on September 14, 2005, followed by a second meeting to take place September 15, 2005 in Portland, Oregon. Further details on the time and location of the meetings will be posted on www.jdfcable.com.

Societe Generale will manage the Open Season process, and subsequent negotiations with the selected parties.

The routing for the cables calls for one line to run between Port Angeles on Washington State's Olympic Peninsula and Victoria on Vancouver Island, British Columbia, with a second line to run between Fairmount on Washington State's Olympic Peninsula and a terminus located in the Vancouver metropolitan area. Permitting on the first line is well underway with application submissions expected before the end of the year. The target in-service date for the first cable would allow it to be on-line for the winter peak loads in 2007 with the second line to follow as soon as 2008. Both lines would provide for bi-direction power flow. When built these two cables are expected to significantly enhance inter-regional power flows and significantly augment the regional transmission systems.

The interconnecting utilities will be Bonneville Power Administration The Bonneville Power Administration (BPA) is a U.S. self-financed federal agency which transmits and sells wholesale electricity in Washington, Oregon, Idaho, and western Montana. The BPA is part of the U.S. Department of Energy, and is headquartered in Portland, Oregon.  ("BPA BPA British Paediatric Association. ") in Washington State, and British Columbia Transmission Corporation ("BCTC BCTC British Columbia Transmission Corporation (public electric utility)
BCTC British Columbia Treaty Commission
BCTC Bluegrass Community and Technical College (Kentucky)
BCTC Battle Command Training Center
") in British Columbia. The project has been under development since October 2003, with the first interconnection filings made with BPA and BCTC in June 2004. An application for a Presidential Permit was filed in February 2005, and BPA's "Transmission Interconnection System Impact Study" was completed August 15, 2005.

The project would utilize HVDC Light(TM) cable and converter systems - leading-edge technologies characterized by low line losses, capability to provide high levels of voltage stability, and minimal impact on marine environments.

The project has received equity financing Equity Financing

The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation.
 from US Power Fund, L.P., a subsidiary of Energy Investors Funds ("EIF EIF Eukaryotic Initiation Factor
EIF Eukaryotic Translation Initiation Factor
EIF European Investment Fund
EIF Edinburgh International Festival
EIF Entry Into Force
EIF Entertainment Industry Foundation
EIF European Interoperability Framework
"). Following completion of project development, planned for September 2006, EIF has an option to provide the balance of the equity required for the project. Societe Generale will advise on arranging project debt.

Capital Access, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, of Seattle, Washington has acted as placement agent for the US Power Fund, L.P. transaction, and in concert with Societe Generale, has been appointed financial advisor to the project.

Sea Breeze Pacific Juan de Fuca Cable, LP, a special purpose entity, is equally owned by Sea Breeze Power Corp. based in Vancouver, British Columbia, and Boundless Energy NW, Inc, of York Harbor, Maine York Harbor is a census-designated place located at the mouth of the York River, within the town of York, and in York County, Maine. The population was 3,321 at the 2000 census. Geography
York Harbor is located at  (43.
 (an affiliate of Boundless Energy, LLC).

A positive response to an application filed with the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates.  (FERC FERC Federal Energy Regulatory Commission
FERC FEMA Emergency Response Capability
) for authority to conduct the Open Season is expected shortly.

About Sea Breeze Power Corp.

Sea Breeze Power Corp. is a leading developer of renewable energy in British Columbia. Its proposed Knob Hill Wind Farm received environmental approvals in September 2004, and is believed to be the largest single onshore wind farm in the world to receive planning approval. The Knob Hill Wind Farm is being designed for a nameplate capacity of 450 megawatts - capable of generating enough electricity to power approximately 135,000 homes. Sea Breeze Power Corp. trades on the TSX Venture Exchange TSX Venture Exchange

Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors.
 under the symbol "SBX". For more information about Sea Breeze Power Corp., please visit www.seabreezepower.com.

About Boundless Energy, LLC

Based in York Harbor, Maine, Boundless Energy, LLC was the founder and original transmission engineering principal of the Project Neptune Undersea Cable consortium, whose contract with Long Island Power Authority resulted in Energy Investors Funds providing equity funding for the installation of a 67-mile, 660-megawatt HVDC submarine transmission cable from northern New Jersey to central Long Island, New York. The Neptune Project cable is presently under construction with a target completion date of 2007.

About Energy Investors Funds

Energy Investors Funds is 100% management owned and was founded in 1987 as the first investment manager to raise, close, invest, recapitalize, and liquidate the assets of a private equity power fund, and is the only private equity power fund manager with an established track record of long-term success.

This is the second undersea cable that Energy Investors Funds has financed in the past twelve months. In July 2005, EIF financed the Neptune Undersea Cable project and were also part of the team that funded the land-based Path 15 transmission line upgrade in central and southern California, which went live in December 2004.

Energy Investors Funds has mobilized over $1.5 billion in capital, and currently manages five private equity funds from its offices in Boston, New York Boston is a town in Erie County, New York, United States. The population was 7,897 at the 2000 census. The town is named after Boston, Massachusetts.

The Town of Boston is an interior town of the county and one of the county's "Southtowns.
, and San Francisco. These funds have made over 65 diversified investments, with a combined underlying asset value exceeding $5 billion. For more information visit please www.eifgroup.com.

The United States Power Fund, L.P., which closed in December 2003, raised total commitments of $250 million from endowments and foundations, pension plans, fund-of-funds, high net worth individuals, banks and insurance companies, and utilities. The Fund principally targets investments in generation, transmission and energy service assets in the U.S. The United States Power Fund II, L.P., which had its first closing in June 2005, has commitments from the same network of investors and is pursuing a similar investment strategy.

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul B. Manson, President

"This news release may contain forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties. Forward-looking statements are based on management's estimates, beliefs and opinions. The Company assumes no obligation to update forward-looking statements."

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

Sea Breeze Power Corp. (TSX VENTURE:SBX)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Aug 25, 2005
Words:1034
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