Thursday, July 15, 2010
Sky Harvest Reports SaskPower RFQ Decision
VANCOUVER, July 15, 2010 - SOURCE: PRNewswire-FirstCall/ - In October 2009 SaskPower announced the Green Options Plan, stating its intention to procure up to 175MW of wind power from independent power producers. A formal Request for Qualifications (RFQ) was issued in December 2009. Sky Harvest Windpower Corp. announces that the Company was not granted qualification by SaskPower in the RFQ. The reason given to the Company was that the balance sheets of the Company and the proposed Joint Venture Developer and Project Finance Guarantor submitted in the Company's response to the RFQ did not meet the financial requirement to qualify at this time. "We have a project with all the right components to deliver a responsible and clean source of energy to Saskatchewan and are very disappointed to not be participating in this year's Request For Proposals" says Chris Craddock, Sky Harvest's President and C.E.O. "Wind power is expected to contribute significantly to the future power generation capacity of Saskatchewan, and the Company intends to participate in any future procurement process which may be announced by SaskPower." The Company is continuing discussions with the proposed developer and is examining other strategic options.