September 29, 2010 / 3:46 PM / 7 years ago

FACTBOX-Canada's green investments starting to grow

Sept 29 (Reuters) - 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 financial details.

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 British Columbia.

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.

$1=$1.03 Canadian Reporting by Susan Taylor; editing by Rob Wilson

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