TABER, ALBERTA--(CCNMatthews - Sept. 22, 2006) -
All figures are in Canadian dollars.
Acciona Wind Energy Canada Inc., Enbridge Inc. (TSX:ENB), and Suncor Energy Products Inc. today celebrated the opening of their newest joint venture wind power project in Alberta, a $60 million, 30-megawatt facility located 20 kilometres southwest of Taber.
The facility consists of 20 1.5-megawatt turbines. It is expected to generate enough clean electricity to power approximately 14,000 Alberta homes and displace the equivalent of at least 88,000 tonnes of carbon dioxide per year.
Power generated from the facility is expected to be available to the grid in late October 2006. In the meantime, the companies will focus on safely commissioning each turbine and completing the 20 kilometre transmission line. Once in full service, Acciona will operate the wind farm.
Wind power is the fastest growing source of electricity in the world and the companies are working toward being leaders in Canadian wind power - a clean and renewable energy source that does not produce any air pollution, and has minimal impact on the environment. Benefits to the local community also extend to the economy. The project began in September 2005, creating employment for approximately 160 local people during the construction phase.
Members of Alberta's Legislative Assembly, Leonard Mitzel for Cypress-Medicine Hat and Paul Hinman for Cardston-Taber-Warner, joined company executives and guests to officially mark the completion of the facility known as the Chin Chute Wind Power Project, named after the Chin Lakes and Chin Coulee.
"The opening of the Chin Chute Wind Power Project increases and consolidates Acciona's presence in Canada, where we already have a wind farm in operation in Alberta. This is an excellent partnership, one in which we continue our efforts in new projects, all at different stages of development. We are honoured to have the opportunity to expand zero-emission electricity generation through renewable energies, and to cooperate with the authorities and businesses in expanding initiatives that address climate change," said Peter Duprey, CEO of Acciona Energy North America.
"Wind power projects like Chin Chute further position Enbridge to become a significant player in developing the fastest growing sector of electricity generation in North America," said Chuck Szmurlo, President, Enbridge Wind Power. "Chin Chute is the third wind project Enbridge has developed in Western Canada and we have already initiated a significantly larger fourth project in Ontario. We have recently announced a planned transfer of these first three completed Western Canadian projects to our sponsored investment, Enbridge Income Fund and these projects, together with our proposed Ontario project, represent a serious investment by Enbridge and the Fund in a sustainable energy future. Developing Chin Chute and our other wind power projects is consistent with our commitment to sound environmental stewardship."
Suncor Energy's Executive Vice President of Natural Gas & Renewable Energy Dave Byler added, "Today Suncor embarks on its third wind farm. We remain committed to bringing to market renewable energy that is economically viable and produces minimal effect on the environment. This is an exciting milestone for Suncor, and for Alberta."
The project companies have applied for funding under the Canadian government's Wind Power Production Incentive, which supports wind power development in Canada.
The companies also announced a joint $30,000 gift to the Municipal District of Taber in recognition of their support for the wind power project. The money will go toward the MD's park enhancement fundraising effort, specifically towards a new amphitheatre, stage area, lighting structure and sound/projection booth.
Acciona, Enbridge and Suncor own the 30-megawatt Magrath Wind Power Project in southern Alberta, which was commissioned in 2004 and is now operated by Acciona. Enbridge and Suncor also own the 11-megawatt SunBridge project near Gull Lake, Saskatchewan, which Enbridge operates.
Acciona Wind Energy Canada Inc., is a subsidiary of ACCIONA Energma, the world leader in the renewables sector. In wind power, it has implemented over 4,000 MW in 152 windparks in 9 countries, of which 2,825 MW are participated in by the company. It has three biomass plants and 59 MW in small hydro power plants. In the field of solar energy it has installed 18 MW of photovoltaic power and 19 MW of thermal power, and is currently constructing - in the United States - the biggest solar thermal electric power plant to be built in the world in the last 15 years. It manufactures 1,500 KW turbines using in-house technology in two plants in Spain and one in China, and produces quality homologated biodiesel. It belongs to the ACCIONA Group, one of the main Spanish and international corporations in the development and management of infrastructures, services and renewable energies, with over 30,000 employees and activities in around twenty countries.
Enbridge Inc. is a Canadian company that is a leader in energy delivery, in North America and internationally. Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids pipeline system, and owns Canada's largest natural gas utility. The Company has interests in natural gas transmission systems, and in pipelines in Colombia and Spain. Through its U.S. affiliate, Enbridge Energy Partners, L.P., the Company is involved in gas gathering and processing in the U.S. Gulf Coast and Mid-Continent regions, and owns and operates a number of U.S. crude oil pipeline and terminal facilities. The Company also has investments in wind power and fuel cell projects. Enbridge common shares trade on the Toronto Stock Exchange in Canada and the New York Stock Exchange in the United States under the trading symbol "ENB". Information about Enbridge Inc. is available on the Company's web site at www.enbridge.com. Enbridge Income Fund is an unincorporated, open-ended trust created to provide a stable and sustainable flow of distributable cash to unit holders. The Fund is a premier income fund in Canada with a low-risk profile focused on energy infrastructure assets. It owns a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in Enbridge Pipelines (Saskatchewan) Inc. and a 50% interest in NRGreen Power Limited Partnership. Enbridge Income Fund's ordinary units are listed and trade on the Toronto Stock Exchange under the symbol "ENF.UN". Information about Enbridge Income Fund is available on the Fund's web site at www.enbridgeincomefund.com.
Suncor Energy Products Inc. is a wholly-owned subsidiary of Suncor Energy Inc., an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include refining operations in Colorado and retail sales in the Denver area under the Phillips 66 brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.
This news release contains forward-looking statements identified by words such as "expected" and "proposed," which is based on Suncor's current expectations, estimates, projections and assumptions made in light of its experiences and the risks, uncertainties and other factors related to its business. Actual events could differ materially as a result of changes to Suncor's plans and the impact of events, risks and uncertainties discussed in Suncor's current annual information form, annual and quarterly reports to shareholders and other documents filed with regulatory authorities.