SUEZ Renewable Energy NA (SRENA), the renewable energy subsidiary of SUEZ Energy North America, has announced that an affiliate has signed a 20-year power purchase agreement (PPA) with New Brunswick Power (NB Power) Distribution and Customer Service Corp.
Under the agreement, the company will supply electricity to NB 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 C$500 million.
SRENA anticipates starting construction of the wind project this year, with commercial operation scheduled to begin in late 2009. The wind farm will be located in the Caribou Mountain region 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.
‘Our government is pleased that SUEZ is showing confidence in our province by making this important investment,’ says New Brunswick Premier Shawn Graham. ‘It will foster economic growth and demonstrates that New Brunswick can be an energy hub.’