Houston-based SUEZ Energy North America, an affiliate of Belgium-based SUEZ Energy International, has signed an agreement to acquire Toronto-headquartered wind power development company Ventus Energy Inc.
The transaction will involve the purchase of 100% of the shares of Ventus for C$124 million in cash, according to the companies. The acquisition marks the first entry of SUEZ into the North American wind energy market.
Ventus' portfolio – considered one of the largest portfolios of potential wind energy in Canada – currently includes 25 wind power development projects in six Canadian provinces.
‘We are extremely pleased to be aligned with a global energy leader like SUEZ,’ says John Douglas, CEO of Ventus. ‘Their global resources and construction expertise will significantly improve our ability to compete, procure wind turbines and execute our business plan in Canada."
