Toronto, February 2, 2009 - Schneider Power Inc. (TSXV: SNE) is pleased to announce that the Bahamas Renewable Energy Corporation Ltd. ("BREC") has been informed by Bahamas Electricity Corporation that its project proposal has been shortlisted and will proceed to the next stage of the Bahamian RFP for renewable energy.
BREC is a joint venture between Schneider Power and WINSO Company Ltd. of Nassau, and is the developer of three contemplated renewable power generation facilities totalling 24 MW, enough to power over 25,000 homes. The contemplated facilities are diversified across two technologies (wind and solar) and three islands (New Providence, Abaco and Harbour Island).
"We are encouraged by BEC and the Bahamian Government's speed and overall commitment to introducing renewable energy into their electricity supply mix and are optimistic that our decision to expand into the Caribbean will provide significant opportunities in the future," said Thomas Schneider, Founder and President of Schneider Power Inc. and Chairman of BREC.
About Schneider Power:
Schneider Power Inc. is one of Canada's premier renewable energy companies, with a large portfolio of clean electricity generation development projects and advanced exploration projects located across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America.
Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.
Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Schneider Power to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
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