AltaGas Announces Northwest Projects Update: 195 MW Forrest Kerr Hydro Facility Complete
June 16 2014 - 10:00AM
Marketwired
AltaGas Announces Northwest Projects Update: 195 MW Forrest Kerr
Hydro Facility Complete
CALGARY, ALBERTA--(Marketwired - Jun 16, 2014) - AltaGas Ltd.
(AltaGas) (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) (TSX:ALA.PR.E)
today announced that it continues to make steady progress on its
three Northwest run-of-river hydroelectric projects. Construction
of the 195 MW Forrest Kerr facility is complete. The remaining
start-up activities at Forrest Kerr will focus on commissioning the
powerhouse systems and high voltage switchyard and tying in to the
Northwest Transmission Line (NTL). Construction and stringing of
the NTL is now complete, and commissioning is underway. AltaGas has
commenced commissioning activities and expects to be generating
power in July.
"With the start-up of Forrest Kerr only one month away, we are
nearing completion of one of the largest projects in the 20-year
history of AltaGas," said David Cornhill, Chairman and CEO of
AltaGas. "The safe commissioning of Forrest Kerr is the last major
step in unlocking the value it will bring to our shareholders, the
Tahltan First Nation, and the Province of British Columbia."
At the 16 MW Volcano Creek project, construction continues to
pace two years ahead of schedule. The penstock excavation and
switchyard work is underway. Assembly of the powerhouse and
installation of the turbine generators is advancing. The project
remains on track to be in service shortly after Forrest Kerr.
At the 66 MW McLymont Creek project, construction of the
powerhouse foundation is advancing ahead of schedule and excavation
of the 2,800 meter power tunnel is approximately 70 percent
complete. The project is expected to be in service in mid-2015.
AltaGas is an energy infrastructure business with a focus on
natural gas, power and regulated utilities. AltaGas creates value
by acquiring, growing and optimizing its energy infrastructure,
including a focus on clean energy sources. For more information
visit: www.altagas.ca
This news release contains forward-looking statements. When
used in this news release, the words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "seek",
"propose", "estimate", "expect", and similar expressions, as they
relate to AltaGas or an affiliate of AltaGas, are intended to
identify forward-looking statements. In particular, this news
release contains forward-looking statements with respect to, among
other things, business objectives, expected growth, results of
operations, performance, business projects and opportunities and
financial results. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. Such statements reflect AltaGas'
current views with respect to future events based on certain
material factors and assumptions and are subject to certain risks
and uncertainties, including without limitation, changes in market,
competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public
disclosure documents. Many factors could cause AltaGas' actual
results, performance or achievements to vary from those described
in this news release, including without limitation those listed
above. These factors should not be construed as exhaustive. Should
one or more of these risks or uncertainties materialize, or should
assumptions underlying forward-looking statements prove incorrect,
actual results may vary materially from those described in this
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proposed, estimated or expected, and such forward-looking
statements included in, or incorporated by reference in this news
release, should not be unduly relied upon. Such statements speak
only as of the date of this news release. AltaGas does not intend,
and does not assume any obligation, to update these forward-looking
statements. The forward-looking statements contained in this news
release are expressly qualified by this cautionary
statement.
AltaGas Ltd.Investment
Community1-877-691-7199investor.relations@altagas.caAltaGas
Ltd.Media(403) 691-7197media.relations@altagas.ca
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