CALGARY, March 26 /CNW/ - ENMAX Energy Corporation ("ENMAX Energy"), is
pleased to announce that ENMAX Green Power Inc., a wholly-owned subsidiary of
ENMAX Energy, has entered into an agreement with Creststreet Kettles Hill
Windpower LP to acquire Kettles Hill Wind Energy Inc., the owner and operator
of the Kettles Hill Windpower Facility, for $163 million including the
assumption of debt and subject to working capital adjustments.
The Kettles Hill Windpower Facility is located near Pincher Creek and is
comprised of 35 Vestas turbines with a current capacity of 63MW; enough
renewable energy for approximately 27,000 homes. The wind farm has potential
for a further 77 MW and the regulatory process for expansion has been
initiated. The site is adjacent to an existing 138 kV transmission line.
As consumer demand for energy from cleaner, sustainable sources continues
to grow, there has been an increased focus on producing more wind power in the
province. Since the removal of the cap restricting Alberta's allowable wind
power in September of 2007, more than 9,000 MW of new wind farm developments
have been proposed. Alberta is the first province in Canada to pass 500 MW of
installed wind power capacity.
"This will help us meet rising demand for wind power and our Greenmax
program", said Gary Holden, President and CEO of ENMAX Energy. "This helps
satisfy rapidly growing customer demand and is consistent with our long-term
strategy to supply energy from renewable resources. This transaction furthers
our goal to have all of our customer's energy needs met by renewable energy,
cogeneration and the best available natural gas or coal gasification
technology. This is another step toward achieving that goal."
ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is Alberta's
leading competitive electricity retailer. ENMAX Energy also provides natural
gas and value-added services to residential, commercial and industrial
customers throughout Alberta. ENMAX Energy is one of Alberta's largest
investors in renewable energy with partial ownership of the McBride Lake Wind
Farm and complete ownership of the Taber Wind Farm. ENMAX Energy's Greenmax
was one of the first green power marketing programs in Canada, and celebrates
its 10th anniversary in 2008. Visit our website at enmaxenergy.com.
You can choose any retailer listed at www.ucahelps.gov.ab.ca or at
310-4822. Electricity delivery to your home or business isn't affected by your
choice of retailer.
For further information:
For further information: The ENMAX Media Line at (403) 689-6150