Travelers Capital Corporation arranges US$26 million project financing for two run-of-river hydroelectric retrofit projects with Riverbank Power Corp.

VANCOUVER, May 11, 2012 /CNW/ - Travelers Capital Corporation is pleased to announce that it has successfully arranged a US$26 million senior secured credit facility to fund construction for Riverbank Power Corporation's 7.5 MW Dorena Lake in Oregon and 4.7 MW Clark Canyon in Montana run-of-river hydroelectric retrofit projects. Travelers Capital structured and arranged the senior secured project financing consisting of a construction loan followed by a 20-year term loan for each of the two projects.  Both projects are expected to be commissioned in 2013. The forecast annual electric output for both projects is estimated at 30 GWh, enough to provide electricity to approximately 2,000 homes.

"Travelers Capital is delighted to have been selected by Riverbank to arrange the construction and long term debt financing on this unique transaction and support their renewable energy growth plans in North America", said Mark Bohn, Managing Partner of Travelers Capital Corporation. "Effectively converting existing non-power generating assets into clean renewable energy projects demonstrates the creativity and foresight that Mr. Douglas and his management team at Riverbank bring to the table."

"Closing this financing marks a significant milestone for Riverbank as we transition from developer to independent power producer," added John Douglas, President and CEO of Riverbank Power. "I am particularly proud of our team's ability to successfully work with the U.S. Army Corps of Engineers and FERC in the case of the Dorena Lake project to finalize our design and approval to commence construction."

About Travelers Capital Corporation

Travelers Capital Corporation is a unit of Travelers Financial Corporation which is one of Canada's largest independent finance and leasing companies in Canada. Travelers Capital Corporation offers structured debt and project finance solutions to developers in the renewable energy sector with a focus on middle market transactions up to $100 million or more in size. Additional information on Travelers Capital is available on the Company's website at www.travelerscapital.com.

About Riverbank Power Corp.

Founded in 2007 and based in Toronto, Canada, Riverbank Power is a developer, constructor and operator of run-of-river and pumped storage hydro generation facilities in North and South America. With offices located in Portland, Oregon, Bend, Oregon, Logan Utah, Rigby, Idaho, Toronto, Canada and Lima, Peru, Riverbank is well positioned to become a market leader in hydropower in North and South America. Riverbank's combined development capacity of 500 MW of run-of-river and over 10,000 MW of pumped storage hydro generation projects represents the largest hydro development pipeline in the world. Additional information on Riverbank Power is available on the Company's website at www.riverbankpower.com.

Mark Bohn - Managing Partner, Travelers Capital Corporation
Phone: + 1.604.637.7989 or email: [email protected]

Or

John Douglas - President & CEO, Riverbank Power Corp.
Phone: [phone] x 152 or email: [email protected]