Unitholders' Vote on Proposed Sale of Interest in West Cape Project Scheduled for February 20, 2008

    TORONTO, Dec. 27 /CNW/ -- Ventus Energy West Cape General Partner
Limited, the general partner of Ventus Energy West Cape Windpower LP (the
"Partnership") announced that it has sent a notification of meeting and record
date to applicable depositaries and securities regulatory authorities in
connection with the meeting of unitholders of the Partnership scheduled to be
held on February 20, 2008, for the purpose of considering and, if appropriate,
approving the sale of all of the Partnership's shares (the "West Cape Shares")
in the capital of West Cape Wind Energy Inc. for cash consideration to Ventus
Energy Corp. ("Ventus"). The record date for determining unitholders entitled
to notice of and to vote at the meeting is January 21, 2008. The terms of the
purchase and sale of the West Cape Shares will be determined between the
parties giving consideration to compliance with applicable laws.
    Ventus is a principal unitholder of the Partnership and beneficially owns
or exercises control or direction over approximately 68.2% of the outstanding
units of the Partnership. As a result, Ventus is a related party of the
Partnership and the purchase and sale of West Cape Shares constitutes a
related party transaction under Ontario Securities Commission Rule 61-501
("Rule 61-501"). There has been no prior valuation in respect of the West Cape
Shares which relates to the proposed transaction. The proposed transaction is
not subject to the formal valuation requirements of Rule 61-501 by virtue of
subsection 5.5(3) as the Partnership is not listed on a "specified market",
but the transaction is subject to the minority approval requirements of
subsection 5.6. Accordingly, under Rule 61-501, the majority of disinterested
unitholders of the Partnership will be required to approve the proposed
transaction at a duly called meeting of unitholders.
    The board of directors of Ventus Energy West Cape General Partner Limited
has established a special committee of disinterested directors consisting of
Norm Betts and Glen Estill to undertake certain functions in relation to the
proposed transaction. An independent company will be retained on behalf of the
Partnership to provide a fairness opinion in relation to the proposed
    Ventus Energy West Cape General Partner Limited is a wholly-owned
subsidiary of Ventus Energy Corp., a member of the SUEZ Energy North America
group of companies. For more information about SUEZ Energy North America,
please visit http://www.suezenergyna.com

For further information:

For further information: Julie Vitek, Vice President, Communications of 
SUEZ Energy North America, +1-617-526-8334, Julie.vitek@suezenergyna.com Web
Site: http://www.suezenergyna.com

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