Apr 18, 2012. /Lesprom Network/. Conifex Timber Inc. announced the British Columbia Utilities Commission ("BCUC") has approved its Electricity Purchase Agreement ("EPA") with BC Hydro as an energy supply contract. The Company completed its EPA and related Load Displacement Agreement ("LDA") with BC Hydro in June 2011. Under the EPA, the Company will supply a minimum of approximately 200GWh of electrical energy annually to BC Hydro over a 20-year term from its bioenergy generation plant (the "Bioenergy Facility") which is currently in development adjacent to one of its sawmill complexes in Mackenzie B.C. Delivery of electricity to the BC Hydro grid is expected to commence in the 3Q 2013. Revenues from the project to Conifex Timber Inc.'s bioenergy segment are expected to exceed $20 million annually when the Bioenergy Facility is operating at design capacity. Under the LDA, the Company is required to deliver 30 GWh of electrical energy annually to provide for the energy requirements of Conifex's two Mackenzie sawmills over the term of the LDA. In exchange for the Company agreeing to make available such energy for its sawmills, BC Hydro will provide incentive funding to be utilized towards the completion of the Bioenergy Facility. Mr. Ken Shields, Conifex President and Chairman, commented: "We are pleased to have received approval from the BCUC. With this important milestone in place, we can now settle our budget, construction and financing plans for the Bioenergy Facility on a priority basis and work towards the re-start of our Site I Mackenzie sawmill in 2013." The Bioenergy Facility will create approximately 80 jobs during the 15-month construction period and over 20 new jobs upon completion. The expected energy generation of approximately 230 GWh of net energy per year is enough to power 24,000 BC homes annually. Conifex Timber Inc. and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, and the manufacture, sale and distribution of its products. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Upon completion of its bioenergy facility at Mackenzie, British Columbia, Conifex's business sectors will be expanded to include bioenergy.