Oil and gas company Suncor Energy plans to sell some Canadian wind projects in a drive to shed non-core assets.
The company has started marketing “for a full or partial sale of certain Ontario wind assets” as part of the company’s overall divestment strategy, spokesperson Sneh Seetal told reNEWS.
“Wind does remain a core part of our business where we can generate greenhouse gas credits that can be applied against emissions from oil production,” said Seetal.
The Calgary-based company has three operating wind farms in Ontario, 76MW Ripley, 40MW Adelaide and 100MW Cedar Point. The projects have a combined net book value of C$275m.
The wind farms have long-term power purchase agreements with the Ontario Independent Electricity System Operator.
Suncor expects to complete the sale within the next 12 months.The company’s wind farms in Alberta and Saskatchewan – the 30MW Magrath, 30MW Chin Chute and 11MW SunBridge projects – are not on the block.
In 2015, Suncor sold its 20MW Kent Breeze scheme and the company’s share of the 88MW Wintering Hills wind farm to TransAlta.
Image: Suncor
Suncor starts Ontario wind sale
Three projects totalling 216MW with combined net book value of C$275m
By EBS