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Canadian Hydro Developers Inc. has signed a contribution agreement with the government of Canada for funding under the ecoENERGY for Renewable Power program for phase II of the Melancthon EcoPower Centre.

The Melancthon EcoPower Centre is owned and operated by Canadian Hydro and consists of two phases. Together, both phases of the Melancthon EcoPower Centre are expected to generate 545 GWh.

"This investment strengthens our goal of having 90 percent of Canada's electricity derived from non-emitting sources by 2020, while ensuring that the clean energy produced is delivered to Canadians at competitive prices," says Lisa Raitt, minister of natural resources.

The 67.5 MW phase I achieved commercial operations on March 4, 2006, and receives C$10 per MWh for 10 years from Natural Resources Canada. The 132 MW phase II reached commercial operation in November and will receive a C$10 per MWh incentive for 10 years under the ecoENERGY for Renewable Power program, in accordance with the terms of the agreement.

SOURCE: Canadian Hydro Developers Inc.

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