BANGOR, Maine (December 6, 2004) — Great Lakes Hydro America, LLC (GLHA), a member of the Brascan Power Group, today announced their commitment to donate $500,000 to the Forest Society of Maine's (FSM) West Branch Project.
GLHA's commitment allows FSM to acquire a $750,000 challenge grant from The Kresge Foundation, thus completing the $35-million West Branch Campaign to secure the 329,000-acre, conservation project. GLHA will make the donation over a five-year period with $200,000 donated in early 2005, followed by $75,000 annually through 2009.
Jeffrey M. Martin, GLHA president and chief operating officer, attended a noontime news conference held by FSM to announce the completion of the West Branch Campaign and honor its many project stakeholders.
On behalf of GLHA and Brascan Power, Martin congratulated the Forest Society of Maine, the state of Maine, and all West Branch Project stakeholders for the successful completion of a five-year partnering process that resulted in forever protecting the largest contiguous tract of undeveloped forestland ever conserved in Maine.
Martin also thanked Alan Hutchinson, FSM executive director, and Ralph Knoll, deputy director, Maine Department of Conservation, Bureau of Parks and Lands, for their leadership in the partnering process.
“GLHA recognizes the valuable contribution the Forest Society of Maine is making towards sustainable development in Maine,” said Martin. “Our vision is to responsibly manage our natural resources in ways that ensure sustainable development while protecting ecosystems and communities in which we operate. The West Branch Project not only protects and preserves the environment, but secures jobs by creating a sustainable forestry initiative.”
FSM's West Branch Project accomplishes three critical objectives: protects the tradition of public access for recreation; maintains the working forest heritage and ensures sustainable forestry; and preserves ecological integrity and wildlife habitat.
The West Branch Project protects 329,000 acres of undeveloped and contiguous land in northwestern Maine predominantly within the West Branch of the Penobscot River watershed. This watershed is critical to GLHA's Maine hydro operations and home to the 126-megawatt hydroelectric generating system acquired on January 31, 2002.
“Traditional outdoor activities such as camping, hiking, canoeing, fishing, and hunting are ensured, while sensitive ecosystems and wildlife habitats are protected,” Martin said. “In total, this project preserves over 16 miles of river frontage and 70 miles of lakeshore along the West Branch.”
In a congratulatory statement, Richard Legault, president and chief operating officer of Brascan Power Corporation, commended the efforts and contributions of all project stakeholders including the West Branch Campaign chair, Sherry Huber; vice chair, Rick Warren; and honorary co-chairs, Maine Governor John Baldacci, U.S. Senator Olympia Snowe, and U.S. Senator Susan Collins.
“The West Branch Project is a great achievement,” said Legault. “Brascan Power and GLHA are honored to contribute and proud to play a role in helping to secure the economic and environmental integrity of Maine's forestlands for the communities and people who depend on them today and in the future.”
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Great Lakes Hydro America, LLC (GLHA), a subsidiary of Great Lakes Hydro Income Fund (TSX: GLH.UN) and a member of the Brascan Power Group, is headquartered in Millinocket, Maine, and operates hydroelectric generating facilities in Maine and New Hampshire. Providing quality jobs for local people, GLHA supplies electricity to pulp and paper mills in the Katahdin Region and in northern New Hampshire. GLHA is committed to sustainable development and takes pride in contributing positively to the communities in which they operate.
For more information, please visit our web site at www.brascanpower.com or contact:
Jeffrey M. Martin
President and Chief Operating Officer
Great Lakes Hydro America, LLC
Tel: 207-723-4341 Ext.100
e-mail: jeffrey.martin@brascanpower.com
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