TransCanada Completes Wind Power ProjectUS$350 Million Kibby Wind Power Project Delivers Additional Power to Maine
CALGARY, Alberta - Nov. 1, 2010 - TransCanada Corporation's (TSX, NYSE: TRP) (TransCanada) construction of New England's largest wind power project - Kibby Wind - is now complete. The US$350 million project is now fully operational and was finished on time and on budget.
"We're pleased to officially add the Kibby Wind Power Project to our portfolio as it is another example of TransCanada's progress toward becoming the leading energy infrastructure company in North America," says Russ Girling, TransCanada's president and chief executive officer. "We are proud to help Maine meet its energy needs and support its goal of 2,000 megawatts of clean, renewable in-state energy generation by 2015."
The 132 megawatt (MW) facility is located in the community of Eustis, Maine and has the capacity to generate enough power to meet the needs of approximately 50,000 homes. The project created 315 construction jobs at its peak and resulted in 13 new full-time positions to operate and maintain the facility. As well, approximately $110 million of the total project cost was spent directly in the state of Maine on materials, labor and accommodations.
The completion of Kibby brings TransCanada's wind energy generation capacity to a combined total of 451 MW. Construction on phases four and five of the Cartier Wind Power Project (of which TransCanada owns 62 per cent) is underway, with the additional 270 MW to come online by the end of 2012.
With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: http://www.transcanada.com/.
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Posted: November 1, 2010
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