To our Shareholders:
Eclipsol Energy (“Eclipsol”) is happy to announce the restructuring of the company in preparation for converting to a public corporation. Eclipsol has appointed two experienced professionals: Casper Bych and William Anderson, to assist us in the evolution of the company. These individuals have raised more than $200 million in financing in the energy, technology, and mining sectors and are well versed in moving organizations to public markets. In addition to the expertise in funding, we have also added Alex Kiess and David Kiess to our team, who have over 50 years in engineering and permitting experience in developing, constructing and operating projects and are considered pioneers of the private sector hydro industry in BC.
The Province of British Columbia needs more electricity to meet the demand of forecasted growth (24-40%) over the next 20 years primarily due to the advent of LNG export industry and the multitude of resource development projects exploding all over the Province. Eclipsol is well situated to take advantage of the energy gap that is emerging in this Province through our development portfolio of assets exceeding 1,200 MW of firm capacity.
As of November 20th, Eclipsol has acquired a mid-development 200 MW hydro-electrical generation project in BC near Quensel Lake called the “Hen Ingram Hydro Project”. The proposed Pumped Storage Power Plant will have an upper storage and intake located at the Hen Ingram Lake which is connected by four 3.0 meter steel penstocks 2.5 km away to Quensel Lake where the lower storage and power house will create astonishing energy due to the 174 meter elevation drop through the four 50 MW generator sets installed. When generating power, the turbine is coupled to the generator and when pumping, the generator is coupled to the pump which will operate in 12 hour cycles pumping and generating power.
In addition to this acquisition, we have the option on several other hydro-electrical projects. Eclipsol now has more than 1.5 GW of development power under option. We are continuing to develop other projects such as the Haana Energy Centre in Haida Gwaii and look forward to the opportunities that wait for us in international markets.
In order to raise the necessary capital to fund the above mentioned projects, Eclipsol is in the process of becoming a public entity. In the next few months, we will have pre-IPO financing rounds prior to the initial public offering (“IPO”).
I wish to thank you, the shareholder, for your continuing support and look forward to providing you with another update in the Spring with more developments on our Company’s portfolio of projects.
President and CEO