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Plutonic Power Secures the Rights for Three New Run-Of-River Green Energy Hydropower Projects

Proposed projects could meet the energy needs of 40,000 homes

Sep 7, 2006 - Plutonic Power Corporation- CCN Mathews

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 7, 2006) - Plutonic Power Corporation (TSX VENTURE:PCC) -

Project Highlights

- Three project sites located at Smythe Creek, Stanton Creek and Fissure Creek

- Total design capacity of 121 Megawatts ("MW")

- Expected to generate 383 Gigawatt hours ("GW.h") of renewable energy annually

Plutonic Power Corporation is pleased to announce that it has successfully completed Stages 1 and 2 towards securing a Water License and Crown Land rights from the Integrated Land Management Bureau (Ministry of Agriculture and Lands) and the Water Stewardship Division (Ministry of the Environment), for the development of three run-of-river nonstorage hydroelectric power generation projects to be located on Smythe Creek, Stanton Creek and Fissure Creek, near the headwaters of Knight Inlet, approximately 200 km North of Powell River, BC.

The Knight Inlet Projects have a design capacity of 121 MW and could be expected to generate approximately 383 GW.h of green energy per year, enough energy to meet the needs for approximately 40,000 homes. Initial studies show that all three creeks have steep sided rock canyons upstream of the proposed powerhouse locations, which act as fish barriers, thus minimizing the impact of the projects on local fish habitat.

The addition of the three Knight Inlet projects brings the number of development projects in Plutonic's portfolio to 22.

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 22 development projects have a design capacity of nearly 1000 MW with the potential to generate approximately 3,300 GWh per annum of green energy - enough energy to meet the annual energy needs of over 300,000 homes. Included in the 22 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor would create approximately 3000 person-years of employment.

In July 2006, Plutonic Power was awarded Energy Purchase Agreements from BC Hydro for its most advanced projects: East Toba River, Montrose Creek and Rainy River, which combined, total 211 MW of capacity. Plutonic has granted a Canadian affiliate of GE Energy Financial Services the exclusive right to provide $100 million of project equity as well as lead a $400 million debt financing for construction of the East Toba/Montrose Creek project.

Plutonic is committed to working with First Nations, stakeholder groups and local communities in the development of its run of river projects.

On behalf of the Board of Directors,


Donald McInnes, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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Updated: 2003/07/28