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Canada

Suez Energy buys Canadian developer Ventus Energy

Suez Energy, a major player in the global energy market, has gained a foothold in North American wind power with its purchase of Canada's Ventus Energy for C$124 million in cash. As well as diversifying the company's portfolio, Suez Energy North America's Zin Smati says the purchase strengthens "our retail energy services offerings in the sale of renewable energy credits into the New England power market." Ventus, based in Toronto, recently completed the 19.8 MW first phase of its merchant West Cape project on Prince Edward Island, which is selling electricity and renewables credits into the north-eastern US (Windpower Monthly, June 2007). Ventus has about 2000 MW of projects in various stages of development in the six eastern Canadian provinces. It currently has 29 MW installed and operating, 80 MW under construction and 99 MW of small-scale projects in Ontario lined up for the province's standard offer wind power purchase contracts. They should start construction soon. Ventus CEO John Douglas says of Suez. "Their global resources and construction expertise will significantly improve our ability to compete, procure wind turbines and execute our business plan in Canada." Suez Energy North America owns and operates about 5538 MW of electricity generation. It is a unit of Suez Energy International, which has a generation portfolio of more than 24,000 MW in North and South America, Asia and the Middle East. The Suez parent company, whose roots go back to the construction of the Suez canal, is listed on the Brussels, Luxembourg, Paris, New York and Zurich stock exchanges and generated revenues of EUR 44.3 billion in 2006 from electricity and gas operations, water treatment plants and waste management services.

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