Houston, Texas [RenewableEnergyWorld.com] SUEZ Renewable Energy NA (SRENA), has announced that an affiliate has signed a 20-year Power Purchase Agreement with New Brunswick Power Distribution and Customer Service Corporation (NB Power). 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 CDN $500 million [US $506 million].
SRENA anticipates starting construction of the wind project in 2008, NB Power will recieve power when commercial operations begin in late 2009. The wind farm will be located in the Caribou Mountain region of the Province of New Brunswick, and will have a total generating capacity of 99 megawatts and a capacity factor of 37percent based on two years of measurement.
“Our government is pleased that SUEZ is showing confidence in our province by making this important investment. It will foster economic growth and demonstrates that New Brunswick can be an energy hub. We are transforming our province and our economy, and the energy sector is key to achieving this,” said New Brunswick Premier Shawn Graham.