HOUSTON, Feb. 26 /CNW/ -- SUEZ Renewable Energy NA (SRENA), the renewable
energy business of SUEZ Energy North America, today announced that an
affiliate has signed a 20-year Power Purchase Agreement with New Brunswick
Power Distribution and Customer Service Corporation. Under the agreement, the
company will supply electricity to New Brunswick Power from a new wind farm
project that SRENA will construct, own, and operate. The contract revenue
over the life of the agreement is expected to be approximately CDN $500
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SRENA anticipates starting construction of the wind project in 2008, with
commercial operation scheduled to begin in late 2009. The wind farm will be
located in the Caribou Mountain region of the Province of New Brunswick, and
will have a total generating capacity of 99 MW and a capacity factor of 37%
based on two years of measurement.
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"Our government is pleased that SUEZ is showing confidence in our
province by making this important investment. It will foster economic growth
and demonstrates that New Brunswick can be an energy hub. We are transforming
our province and our economy, and the energy sector is key to achieving this,"
said New Brunswick Premier Shawn Graham.
"Environmental stewardship is an important driver in all our decisions,"
said David Hay, President and CEO New Brunswick Power. "Partnering with SUEZ
is yet another step in our commitment to the environment and the people of New
"SUEZ is committed to renewable energy, and this project will enable our
company to strengthen our role in the expanding North American renewable
energy market," said Paul Cavicchi, President and CEO of SUEZ Renewable Energy
NA. "We are pleased with the early momentum of our North American renewable
energy business, underscored by its success in executing this agreement so
shortly after the acquisition of Ventus Energy."
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In late September 2007, SUEZ Energy North America acquired Ventus Energy
of Canada, which has built a portfolio of 10 wind energy development projects
in active development in six provinces in eastern Canada, including Ontario,
Quebec, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and
Labrador. The portfolio is believed to be one of the largest portfolios of
potential wind energy projects in Canada and includes close to 2,000 MW of
electricity generation in various stages of development.
Worldwide, SUEZ has been a longtime leader in using renewable energy
sources, including hydro power, biomass, and wind. Nearly 40% of all of SUEZ's
electric generation capacity produces no carbon dioxide emissions, and another
40% produces very little. SUEZ was recently included in the Climate Disclosure
Leadership index, a prestigious honor roll for global corporations addressing
the challenges of climate change.
About SUEZ Energy North America
Based in Houston, SUEZ Energy North America, Inc. is the business unit of
SUEZ Energy International responsible for managing SUEZ's positions within the
energy value chain in the United States, Mexico, and Canada, including
electricity generation and cogeneration, natural gas and liquefied natural gas
(LNG), asset-based trading and origination, and retail energy sales and
related services to commercial and industrial customers.
SUEZ Energy North America owns and/or operates a total of 46 power,
cogeneration, steam, and chilled-water facilities, including those in
construction, representing a capacity of more than 5,660 MW of electricity
generation, 6.0 million pounds per hour of steam, and 41,973 tons per hour of
chilled water. SUEZ Energy North America's wholly owned subsidiary, Distrigas
of Massachusetts, owns and operates a liquefied natural gas receiving terminal
in Everett, Mass., which began operations in 1971 and currently serves most of
the gas utilities in New England and key power producers, meeting
approximately 20 percent of New England's annual gas demand. In addition,
SUEZ Energy North America has two LNG deepwater port projects under
development off the coasts of Massachusetts and Florida.
SUEZ Energy International is a business line of SUEZ, which is an
international industrial and services Group that employs 140,000 people
For more information about these companies and their activities, please
visit the following Web sites:
SUEZ Energy International: http://www.suezenergyint.com
SUEZ Energy North America: http://www.suezenergyna.com
For further information:
For further information: Julie Vitek of SUEZ Energy North America,
+1-713-636-1962, Julie.email@example.com; or Katja Damman of SUEZ Energy
International, 32 2 510 70 69, firstname.lastname@example.org; or Arnaud
Erbin, SUEZ Investor Relations, 33 1 4006 6489, email@example.com