Vancouver's Plutonic Power Corp. (TSX:PCC) has received its environmental assessment certificate for its 130-megawatt Upper Toba Valley run-of-river project approximately 50 kilometres north of Powell River.
The project consists of three generation facilities on Jimmie Creek, Galgleish Creek and the Upper Toba River and is expected to generate enough power for 35,000 homes.
The project will use the same transmission line being built for Plutonic's 196-megawatt Toba/Montrose project, which has been under construction since July 2007.
Plutonic expects the environmental assessment process to conclude by early spring 2009. The company, along with GE Energy Financial Services, intends to include the Upper Toba project in BC Hydro's call for clean power in November.
Plutonic's share price range during the past week: between $4.80 and $5.40; 52-week high: $9.29; 52-week low: $4.26.