RED DEER, ALBERTA -- (Marketwire) -- 07/02/09 -- The Honourable Jim Prentice, Minister of the Environment, today joined Hal Kvisle, President & CEO of TransCanada (TSX: TRP) (NYSE: TRP) and John Lounds, President & CEO of the Nature Conservancy of Canada to celebrate a significant conservation partnership worth up to $11.4 million in Alberta and Saskatchewan.
"The Government of Canada is proud to play a role in securing this important habitat in southern Alberta. The Red Deer River Natural Area contains some of the most productive wetlands in North America," said Jim Prentice, Minister of the Environment. "Conservation of these lands is a priority for our government as they provide habitat for migratory birds and several species at risk."
At the heart of the partnership is a milestone investment of $2.4 million from TransCanada to support the Nature Conservancy of Canada's work.
"TransCanada is proud to join the Nature Conservancy of Canada's work to advance the long-term conservation and stewardship of healthy native parkland in the Red Deer River Natural Area," said Hal Kvisle, President & CEO, TransCanada. "Environmental stewardship is integral to all aspects of our business and TransCanada believes we have a responsibility to protect the environment for future generations."
This is TransCanada's largest community investment to-date. It will leverage as much as $9 million in funding to conserve the most critical areas of biodiversity in Alberta and Saskatchewan. Five million will be invested directly in the Red Deer River Natural Area. This contribution represents the sole private sector investment in the Red Deer River Natural Area.
The matching funds for TransCanada's generous investment will come from the Government of Canada's $225 million Natural Areas Conservation Program and the United States Fish & Wildlife Service, through the North American Wetlands Conservation Act (NAWCA).
"We are grateful for TransCanada's generous support which will preserve critical natural habitat. Partnership is the key to any long-term conservation success. This investment is the catalyst for a unique partnership. A private corporation, government and a not-for-profit organization are working together to ensure our natural treasures will be here for future generations to enjoy," said John Lounds, President & CEO of the Nature Conservancy of Canada.
"Some of our goals in the Red Deer River Natural Area are to impede further loss of native parkland, and to maintain and recover habitat for the benefit of biodiversity, especially Species at Risk such as the Piping Plover. The Red Deer River Natural Area is vulnerable, as are many parts of Alberta and Saskatchewan, to further threat of development and agricultural conversion.
