Schneider Power Announces First Quarter Results

TORONTO, ONTARIO, May 27 (MARKET WIRE) --
Schneider Power Inc. (TSX VENTURE: SNE), a global developer of renewable
energy facilities, today announced its 2009 first quarter results.

Highlights for the first quarter ended March 31, 2009:

- Achieved EBITDA breakeven

- Signed Framework and Limited Partnership Agreements with Energy Farming
International ("EFI") for the financing, construction, commissioning and
operation of up to 4 Ontario wind projects - Arthur (10MW), Spring Bay
(6.5MW), Trout Creek (10MW) and Innisfil (10MW)

- Achieved short-listed status for a 24MW renewable energy RFP project in
the Bahamas

- Signed a letter of intent to partner with Emera Inc. to provide
financing and development expertise for our Bahamas project

- Received environmental approval and zoning by-law for our Arthur Wind
Farm

"I am pleased with the solid progress we made on our business plan in the
first quarter," stated Jonathan Lundy, Schneider Power's Chief Executive
Officer. "Aside from improved top and bottom-line performance, our
primary focus is always to crystallize value from our project pipeline,
and the EFI deal highlights our ability to do just that even in a
difficult and volatile market. Our breakeven EBITDA performance indicates
traction on our growth and cost reduction initiatives, and our overriding
goal to better align our expenses with our revenue."

During the quarter ended March 31, 2009, the Company incurred a net loss
of $185,441 ($0.00 per share), compared to a net loss of $224,410 ($0.00
per share) for the prior year period. Revenues rose to $577,587 for the
quarter, from $81,752 in the comparable period. Salaries, general and
administrative expenses rose to $541,285 in the quarter, compared to
$345,654 in the prior year period. EBITDA loss narrowed in the first
quarter to nil from a loss of $268,397 in the prior year period. "Despite
continued volatility in the economy and a tight credit market, the
Company is cautiously optimistic about 2009," added Lundy, "with
substantial year-over-year financial improvements expected (positive
EBITDA and 30% reduction in G&A) and increased value emerging from our
portfolio of renewable energy projects."

The Company's complete First Quarter Financial Statements and
Management's Discussion and Analysis are available at www.sedar.com or on
the Company's website at www.schneiderpower.com.

About Schneider Power:

Schneider Power Inc. is one of Canada's premier renewable energy
companies, with a large portfolio of clean electricity generation
development projects and advanced exploration projects located across two
continents, and large land positions on the most promising and
prospective wind and solar power areas in North America.

Schneider Power is listed on the TSX Venture Exchange under the symbol
SNE.

NON-GAAP MEASURES

Earnings before interest, taxes, depreciation and amortization (EBITDA)
is a standard used in the energy industry to assist in understanding and
comparing operating results. The Company believes that this measure is
important in assessing its profitability before the impact of
depreciation and amortization and non-operating factors, including gain
or loss on derivatives. EBITDA is also a useful measure of the Company's
ability to service debt, invest in capital equipment or distribute
dividends to its shareholders. EBITDA is not defined by GAAP and should
be used as a supplement and not a substitute for the Company's results of
operations.

Certain statements included in this news release constitute
"forward-looking information" within the meaning of applicable securities
legislation. Such forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Schneider Power to be materially
different from any future results, performance or achievements expressed
or implied by such forward-looking information.

The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.

Contacts:
Schneider Power Inc.
Jonathan Lundy
Chief Executive Officer
(416) 847-3724 x234
Email: jlundy@schneiderpower.com

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