GDF SUEZ and International Power (70% owned by GDF SUEZ) are pleased to announce further progress in developing wind energy in Canada with new Power Purchase Agreements (PPAs) secured for two 99MW wind farms in Ontario and the start of construction of Cape Scott 1, a 99MW wind development in British Columbia.
IPR-GDF SUEZ North America has secured 20-year PPAs with the Ontario Power Authority for all of the output from the 99MW Erieau and 99MW East Lake St. Clair wind projects. Each project is estimated to cost approximately CAD$300 million (€214 million) with commissioning of both facilities expected in 2013.
In addition, construction will shortly commence at Cape Scott 1, a 99MW wind farm with a 20-year contract with British Columbia Hydro and Power Authority. The project is estimated to cost CAD$300 million (€214 million) and is anticipated to be in operation in 2013.
Gérard Mestrallet, Chairman and CEO of GDF SUEZ, said,“These projects demonstrate excellent further growth in our wind energy portfolio in Canada. Our global expertise and skills in wind power enable the Group to strengthen and continue to grow its position in renewable energy. With these projects we are pleased to reinforce our commitment to environmentally clean power generation within a country that shares the same priority.”
Philip Cox, CEO of International Power, commented,“Canada is a key market for renewable energy, with high quality projects that are supported by long term Feed–In Tariffs. We are delighted with our progress which strengthens our position in this attractive market with further growth opportunities.”
An exchange rate of CAD$1:€0.7130 has been used in this announcement.
IPR-GDF SUEZ North America has sustainable positions in power generation, natural gas and LNG, and retail electricity sales in the United States, with strongholds in the Northeast and Texas. As the top LNG importer in the US, IPR-GDF SUEZ North America is serving approximately 20% of New England’s natural gas demand. It is also a leading US electricity retailer, and a major power generator, having a capacity of 14,000 MW.
About International Power
International Power plc (iprplc-gdfsuez.com) is a leading independent electricity generating company with 70,196MW (gross) (41,550MW net) in operation and a significant pipeline of 17,249MW (gross) (6,826MW net) projects under construction as at 31 December 2010. International Power is listed on the London Stock Exchange with ticker symbol IPR. GDF SUEZ holds a 70% interest in International Power plc.
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About GDF SUEZ
GDF SUEZ (gdfsuez.com) develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.
Investor relations contact:
T: +33 (0)1 44 22 66 29 / E-Mail: ir[.]gdfsuez.com.