Sept 29 Traditional Canadian energy producers
are boosting their investments in renewable energy companies
and clean power projects [ID:nN27108915].
Part of the reason is to gain instant expertise in a
growing field and to buff up "green" credentials. But most oil
and gas companies, or electricity producers, are eyeing
renewables for profit and revenue growth.
Here is a list of some recent deals in the sector:
* Sept. 22 - Fort Chicago Energy Partners FCE_u.TO offers
to buy Pristine Power PPX.TO in a stock deal that values
Pristine shares at C$3.05 each, a 17 percent premium to the
closing price one day earlier. The acquisition is worth about
C$118.4 million ($115 million). [ID:nSGE68L0I1]
Fort Chicago is a natural gas power producer, while
Pristine is developing wind power and thermal projects.
* Sept. 22 - Suncor Energy Inc (SU.TO) and Teck Resources
Ltd TCKb.TO join forces to develop a wind power project in
Alberta. Suncor, Canada's largest oil company, will own 70
percent of the 88-megawatt Wintering Hills venture and operate
it. Diversified miner Teck will own the rest and expects to
invest C$66 million in the project. Suncor did not give
Suncor and Teck are also partners in the Fort Hills oil
sands project in Alberta.
* Sept. 8 - Enbridge Inc ENF_u.TO, Canada's No. 2
pipeline company, says it will spend $23.8 million for a 20
percent stake in a 35 MW geothermal plant in Oregon being
developed by US Geothermal Inc (HTM.A). The Neal Hot Springs
project is under construction and expected to be in service in
the second quarter of 2012.
Enbridge already operates wind farms in Canada and the
United States and has a solar facility in Ontario.
* July 26 - Sea Breeze Power Corp (SBX.V) signs a
development deal with International Power Canada Inc for the
first phase of the 99 MW Knob Hill wind farm on Vancouver
Island. Terms were not disclosed, but the companies said
International Power will become majority owner of phase 1.
* June 26: Spanish-owned Genera Avante Holdings Canada pays
almost C$22 million for a 49 percent equity stake in Shear Wind
Inc's SWX.V Glen Dhu North wind project in Nova Scotia.
June 22: Swift Power Corp agrees to be bought by Fort
Chicago Energy Partners for C$8.5 million. Swift holds a power
purchase agreement for a run-of-river generating project in
Oct. 5, 2009: Canadian Hydro, the country's largest
renewable power developer, accepts a C$755.6 million takeover
offer from Canada's biggest publicly owned electricity producer
TransAlta Corp (TA.TO), after a three-month takeover battle.
(Reporting by Susan Taylor; editing by Rob Wilson)