14 May 2010
International Power to Build 76MW of Additional Wind Generation in Ontario, Canada
(London – 14 May 2010) International Power plc announces that it has signed power purchase agreements for 76MW of new wind generation capacity in Ontario under the Ontario Transmission Authority’s Feed-in Tariff programme.
The projects, Point Aux Roches (49MW) and Plateau (27MW), are expected to begin construction in the second half of 2010 and commence operation in 2011. Once operational, the output from this capacity will be sold under a 20-year feed-in tariff to the Ontario Power Authority.
Philip Cox, CEO of International Power said, "We are delighted to announce this next phase of organic growth in Canada. It builds on the solid platform acquired with the AIM wind portfolio last year and we look forward to developing further capacity in this attractive renewables market."
The total project cost for this capacity is estimated to be C$227 million (£152 million) which is expected to be funded by debt and equity in a 75:25 ratio. International Power anticipates closing non-recourse project financing for these projects in the second half of this year.
Notes to Editors:
To view related announcements please visit www.ipplc.com/news/press-releases/2009.aspx
An exchange rate of £1: C$1.49 has been applied in this announcement.
For further information please contact:
International Power
| Investor Contact: |
Media Contact: |
Aarti Singhal
Telephone: +44 (0)20 7320 8681 |
Beth Akers
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About International Power
International Power plc is a leading independent electricity generating company with 32,358MW gross (20,671MW net) in operation and 4,567MW gross (1,452MW net) under construction. International Power has power plants in operation or under construction in Australia, the United States of America, the United Kingdom, Belgium, Canada, France, Germany, Italy, the Netherlands, Portugal, Spain, Turkey, Bahrain, Oman, Qatar, Saudi Arabia, the UAE, Indonesia, Pakistan, Puerto Rico and Thailand. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: www.ipplc.com