GE and Plutonic Power Granted Extension on Due-Diligence Period for Dokie Wind Project Acquisition

GE Energy Financial Services and Plutonic Power Corporation (TSX:PCC) have been granted a 14-day extension to July 20 of the due-diligence period in the partners' review of the purchase of the 300-megawatt Earthfirst Dokie Ridge Wind Project, located 1,100 kilometers northeast of Vancouver, near Chetwynd. The previous 45-day period for due-diligence would have ended on July 6. Provided that certain conditions are satisfied or waived by July 20, GE Energy Financial Services and Plutonic plan to complete the acquisition of the Dokie assets within a further 45-day period. Satisfaction or waiver of conditions to closing include but are not limited to consent of First Nations and other material stakeholders, assignments of material permits and contracts and receipt of regulatory approvals.

GE and Plutonic Power Considering Acquisition of Largest Wind Project in British Columbia

GE Energy Financial Services announced today it has signed an agreement with EarthFirst Canada Inc. (TSX:EF)(TSX:EF.WT) to consider purchasing the up to 300-megawatt Dokie Ridge Wind Project, the largest wind farm project under construction in British Columbia. Subject to satisfaction of conditions, including due diligence and internal approvals, GE Energy Financial Services has agreed to form a partnership with Plutonic Power Corporation (TSX:PCC) which, provided the acquisition is completed, will own and operate the project, located 1,100 kilometres northeast of Vancouver, near Chetwynd.

The project would represent GE Energy Financial Services' and Plutonic's first wind energy investment in Canada and an expansion of their relationship from hydroelectric power development into wind energy.

GE Drivetrain Technologies Signs LOIs with A-Power to Supply 900 Wind Turbine Gearboxes and Establish Joint Venture to Build Wind Turbine Assembly Facility

GE Drivetrain Technologies, a unit of GE Transportation, and A-Power Energy Generation Systems (Nasdaq: APWR) announced today that they have signed two Letters of Intent (LOI), one for GE Drivetrain Technologies to supply A-Power with 2.7 megawatt (MW) wind turbine gearboxes and a second to establish a Joint Venture partnership for a wind turbine gearbox assembly plant.

Under the supply agreement, GE Drivetrain Technologies will supply A-Power with more than 900 2.7 MW gearboxes beginning in 2010. ''We're excited about the opportunity to serve A-Power," said Prescott Logan, Business Leader GE Drivetrain Technologies. ''The speed and focus that A-Power has brought to building its wind turbine business, combined with the highly reliable design of its Fuhrlander 2.7 MW turbine, position A-Power well for long-term success in China and the broader global market.''

Shear Wind Announces Second 100 Megawatts for Alberta

Mike Magnus, President and CEO of Shear Wind Inc. ("Shear Wind") (TSX VENTURE:SWX) is pleased to announce that Shear Wind has secured a second 100 Megawatt (MW) build-out position on the existing Alberta electrical grid for the Willowridge Project located in Southern Alberta. The Alberta Electric Supply Operator (AESO) confirmed positive conclusions for interconnection to the Alberta Interconnected Electric System (AIES). With the two previously announced projects, Shear Wind now has three projects totalling 260 MW's in build-out positions.

"The Willowridge Project is our second 100 MW project to obtain a position on the Alberta Grid. We anticipate that the 100 MW recently secured by Willowridge will be followed by continued favourable decisions on our other applications that total 600 MW's which Shear Wind has filed with AESO," Magnus says.