Suez to build 99 MW wind farm in New Brunswick

Houston-based Suez Energy North America announced that it's renewable energy division would build a 99 megawatt wind farm in New Brunswick, Canada, signing a deal to sell the electricity to New Brunswick Power.

Suez Renewable Energy signed a 20-year power purchase agreement that it said would be worth Cdn$500 million over the life of the contract.

"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.

"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."

Suez Energy, a subsidiary of France's Suez, announced its acquisition of Canadian wind power development company Ventus Energy last July, closing the deal in September (see Suez to buy Ventus for $118.2M).

The company said Ventus has 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.

Suez said construction of this latest New Brunswick wind project, to be located in the Caribou Mountain region, is expected to start this year, with commercial operation scheduled for late 2009.