Canada - Brascan awarded two wind energy projects in Ontario

Superior Wind Energy, a subsidiary of Brascan Power, has been selected by the Ontario government to develop two wind power projects totaling approximately 150 MW. The projects were announced by Energy Minister Dwight Duncan, along with three other wind farm projects that have received approval from the McGuinty government. "Since 2000, we have been very active in identifying high value wind energy resources, and have over 34,000 acres of land for further wind projects in Ontario under lease option." said Harry Goldgut, Brascan Power's Chief Executive Officer
Superior will work on a 100 MW wind farm in Prince Township near Sault Ste. Marie and a 50 MW wind farm on rural lands near Collingwood. Construction of the 100 MW project near Sault Ste. Marie is scheduled for 2005, and will include approximately 60 wind turbines to be erected primarily on private land leased by the company. The project is expected to reach full commercial operation before March 2006. The 50 MW Blue Highlands project is expected to begin in 2006 and reach full operations before March 2007. Power generated by these facilities will be sold under 20-year power supply agreements.

These projects represent the first stage of the Ontario government's commitment to the development of 2,700 MW of new renewable energy by 2010, and are a key-part of a long-term strategy to help the government reach its energy supply and emission reduction objectives. "Since 2000, we have been very active in identifying high value wind energy resources, and have over 34,000 acres of land for further wind projects in Ontario under lease option," said Harry Goldgut, Brascan Power's Chief Executive Officer. The completion of these two projects will bring Brascan Power's total generating capacity in Ontario to over 1,100 MW, including 17 hydroelectric generating stations.