Under the agreement, the company will supply electricity to New Brunswick Power from a new wind farm project that Suez Renewable Energy NA (Srena) will construct, own and operate.
The contract revenue over the life of the agreement is expected to be approximately C$500 million. 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 Canadian province of New Brunswick, and will have a total generating capacity of 99MW and a capacity factor of 37% based on two years of measurement.
David Hay, president and CEO of New Brunswick Power, said: Environmental stewardship is an important driver in all our decisions. Partnering with Suez is yet another step in our commitment to the environment and the people of New Brunswick.
