Vancouver independent power producer Plutonic Power Corp. (TSX-V:PCC) has completed the first two stages in securing a water licence and rights to Crown land for three run-of-river hydroelectric power projects on the Sunshine Coast.
The projects, located near the headwaters of Toba Inlet, about 100 kilometres north of Powell River, will have a 116-megawatt capacity, which would generate enough energy for about 35,000 homes.
They raise Plutonic's total number of projects to 25 and bring the company's total design capacity to more than 1,300 megawatts of electricity, or enough power for roughly 440,000 homes.
Plutonic share price range during the past week: between $5 and $5.44; 52-week high: $5.44; 52-week low: $0.83.