February 25, 2005 02:10 PM US Eastern Timezone Cartier Wind Energy to Become Quebec's Largest Wind Energy Producer LONGUEUIL, Quebec--(BUSINESS WIRE)--Feb. 25, 2005--TransCanada (TSX:TRP) (NYSE:TRP):
Cartier Wind Energy is pleased to announce that long term Electricity Supply Contracts have been signed today with Hydro-Quebec Distribution for 740 megawatts (MW) of wind power projects located in the Gaspesie-Iles-de-la-Madeleine region and the Regional County Municipality of Matane. With these agreements, Cartier Wind Energy will become the largest wind energy producer in the province of Quebec. The assets related to the wind power projects are indirectly co-owned by TransCanada Corporation (62%) and Innergex II Income Fund (38%).
This signing follows the October 2004 announcement of Cartier Wind Energy's successful bid in response to Hydro-Quebec Distribution's call for tenders. The long-term Electricity Supply Contracts will be presented to the Regie de l'energie for approval.
"We are pleased to execute these agreements which are the result of four years of work and we are thankful to the community of Gaspesie for supporting these important green energy projects," said Gilles Lefrancois, Chairman of the Board of Cartier Wind Energy.
These projects represent an investment of more than $1.1 billion and will be commissioned beginning in 2006 and continue up to 2012. The projects are Baie des Sables (109.5MW), Anse a Valleau (100.5MW), Carleton (109.5MW), Les Mechins (150MW), Montagne-Seche (58.5MW) and Gros-Morne I and II (211.5MW). The projects' total annual production will represent 2.3 terawatthours (TWh), the energy required to meet the electricity needs of about 150,000 households in the province of Quebec. Cartier Wind Energy has already begun the environmental permitting process for the 2006 projects in close collaboration with local communities and suppliers, and has received a positive response from the regional population following the introduction of the projects.
TransCanada Corporation Profile
TransCanada is a leading North American energy company, focused on natural gas transmission and power services. TransCanada's network of approximately 41,000 kilometres of pipeline transports the majority of Western Canada's natural gas production to the fastest growing markets in Canada and the United States. Including TransCanada's interest in Cartier Wind Energy, TransCanada owns, controls or is constructing more than 5100 MW of power - an equal amount of power can meet the needs of about 5.1 million average households.
Innergex II Income Fund Profile
Innergex II Income Fund ("Innergex II") is a private open-ended trust that was created in 2001 to build, own and operate hydroelectric power plants and wind farms in North America. In addition to being a partner in Cartier Wind Energy, Innergex II owns, operates and develops more than 300 MW hydroelectric projects. Innergex II has executed a cooperation agreement with Innergex Power Income Fund ("Fund"), a public open-ended income trust created in July 2003 and listed on the Toronto Stock Exchange (IEF.UN), pursuant to which any project developed by Innergex II is offered to the Fund before being offered to any other third party. The Fund indirectly owns nine hydroelectric power stations in Quebec, Ontario and Idaho, USA.
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Contacts
Cartier Wind EnergyMr. Gilles LefrancoisChairman of the Board(450) 928-2550, ext. 243Email: info@innergex.comORMr. Michel LetellierVice President(450) 928-2550, ext. 227Email: info@innergex.comWebsite: www.innergex.comORTransCanadaMedia InquiriesKurt Kadatz/Hejdi Feick(403) 920-7859 or (800) 608-7859ORInvestor & Analyst InquiriesDavid Moneta(403) 920-7911Website: www.transcanada.com
