International Power, 70 percent owned by French utility GDF Suez , has signed power purchase agreements (PPAs) with the Ontario Power Authority for all the output from two 99 MW wind farms in Canada.
Each project is estimated to cost about $305.4 million and commissioning of both facilities is 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 €214 million and is anticipated to be in operation in 2013.
“These projects demonstrate excellent further growth in our wind energy portfolio in Canada,” said Gérard Mestrallet, Chairman and CEO of GDF SUEZ. “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, said, “Canada is a key market for renewable energy, with high quality projects that are supported by long term Feed–In Tariffs. Our progress [with these projects] strengthens our position in this attractive market with further growth opportunities.”
Ontario's FIT scheme pays generous, above-market rates to producers of renewable energy from sources such as the sun and wind under 20-year, fixed-price contracts.