Dan Balaban named 2012 Prairies Cleantech Ernst & Young Entrepreneur Of The Year

CALGARY, Oct. 22, 2012 /CNW/ - Greengate Power Corporation ("Greengate") is pleased to announce that its Founder, President and CEO, Dan Balaban, has been named the 2012 Prairies Cleantech Ernst & Young Entrepreneur Of The Year.

Dan began his career at Ernst & Young, and is an accomplished entrepreneur and management consultant. In 2007, at the age of 32, Dan founded Greengate armed with an SUV as his office and a wind map of Alberta. Greengate is currently focused on developing high quality wind energy projects across Alberta. Greengate completed the sale of its 150 MW Halkirk Wind Project in 2011, which will be Alberta's largest operating wind energy project upon completion later this year. Greengate's next project, the 300 MW Blackspring Ridge Wind Project, is expected to be Canada's largest operating wind energy project upon completion in 2013.

"For me, entrepreneurship is defined as having a vision, sourcing the capital required to realize the vision and identifying the team to execute the vision," said Dan Balaban. "At Greengate, we are fortunate to have among the world's best wind energy development teams and the entrepreneurial spirit is strong in each member of our team."

Ernst & Young Entrepreneur Of The Year recognizes the spirit and contribution of entrepreneurs in Canada and around the world. The Canadian program is in its 19th year of honouring the country's most impressive entrepreneurs from all areas of business. Award winners are chosen based on a number of factors, including their vision, leadership, financial performance and social responsibility.

About Greengate Power Corporation

Greengate is a privately held renewable energy project developer based in Calgary, Alberta, Canada. It is currently focused on the development of high quality wind energy projects across Alberta. Greengate is currently developing eight wind energy projects totaling 1,450 MW on approximately 165,000 acres of private land. Greengate's 300 MW Blackspring Ridge Wind Project is expected to be Canada's largest operating wind energy project upon completion in 2013. Greengate's vision is to be Canada's largest pure-play renewable energy producer. For more information on Greengate, please visit www.greengatepower.com.

FORWARD LOOKING STATEMENTS:

This news release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws. In particular, forward looking information in this news release includes, but is not limited to: statements with respect to the Blackspring Ridge Wind Project ("Blackspring Ridge") and Greengate's other wind energy projects, including the expected completion date and relative size of Blackspring Ridge. The forward-looking information is based on certain key expectations and assumptions made by Greengate, including expectations and assumptions concerning the development of its wind energy projects and other wind projects in Canada; the state of the economy and the cleantech business; business prospects and opportunities; the current regulatory and political environment; and existing financial commitments.. Although Greengate believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Greengate can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof and Greengate undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

SOURCE: Greengate Power Corporation

Media Inquiries:

Deekay Fox
Manager, Marketing & Corporate Communications
403‐930-1306
[email protected]