New Hydro Facility Operating in Canada

Brascan Corporation’s new 45 MW hydroelectric facility on the Michipicoten River near Wawa, Ontario is complete and it is now in commercial operation. This facility is the first private sector hydroelectric power station built in the province following deregulation of the Ontario power market.

Wawa, Ontario – May 1, 2003 [] Brascan has named the new hydroelectric power facility the Robert A. Dunford Generating Station in recognition of the significant contribution made to Brascan and its power generation operations by Robert Dunford, the company’s recently retired Group Chairman, Power Operations. “The Robert A. Dunford project has been a success story for Brascan and the northern Ontario communities around this facility,” said Harry Goldgut, CEO, Brascan Power. “The construction of this US$75 million power station was completed on time and on budget using primarily Ontario-based workers and subcontractors, who employed 150,000 hours of local labor. We are proud to be contributing to Ontario’s supply of reliable, renewable and environmentally preferred hydroelectric power.” The completion of the Dunford generating station expands Brascan’s total generating capacity to 1,654 MW, solidifying the company’s position as a key participant in the Ontario electricity market. The Dunford Power Station will be integrated with Brascan’s 15 other hydroelectric facilities in northern Ontario – creating operational efficiencies and optimizing the power generated by each power plant. Brascan Corporation is a North American based real estate, power generation and asset management company. With US$15 billion of invested capital, current operations include 55 premier properties and 38 power generating facilities.
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