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Suncor-Teck JV For Wind Project

Canada’s premier integrated energy company, Suncor Energy (SU: 43.79 -0.11 -0.25%), has paved the way to start the construction of the planned 88 megawatt (MW) Wintering Hills Wind Power Project in Alberta. The project was approved by the Alberta Utilities Commission (“AUC”) in June, 2010.

This wind power project is a joint venture of Suncor Energy and Teck Resources Limited (TCK: 51.94 -0.36 -0.69%), with the former holding 70% operational interest and the remaining 30% being held by the latter. The financial terms of the deal were not disclosed.

The project involves the installation of 55 General Electric 1.6 MW turbines on a privately-owned land to the south east of Drumheller, Alberta. These turbines operating at full capacity will be able to generate adequate power for approximately 35,000 Alberta homes, counterbalancing the 200,000 tonnes of carbon dioxide emitted every year.

The project started in July 2010, and will likely be wrapped up by the year-end 2011.

Wintering Hills is so far the most crucial wind power project for Suncor, and we appreciate the company’s unrelenting efforts in developing the renewable energy industry in Canada.

Alternative energy resources, particularly wind energy, are fast spreading across the globe, thanks to its eco-friendly nature as well as economic feasibility. Hence, Suncor’s investments in the power project highlight its determined focus on making Alberta pollution free.

Alberta-based Suncor Energy is involved in the operations of oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining and product marketing.

With a bundle of wind and oil sands projects, improved production outlook and cost saving initiatives, we expect Suncor to be in a beneficial position in the coming quarters.

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