Vancouver-based resource giant Teck Resources Ltd. (TSX:TCK.A) announced Wednesday morning it is making its first foray into the wind energy sector with a joint-venture agreement with Suncor Energy Products Inc. to develop an 88-megawatt wind energy farm in Alberta.
Calgary-based Suncor will own a 70% interest and operate the Wintering Hills wind power project, with Teck owning the remaining 30%.
Teck expects its total investment in the project, which is Suncor’s biggest wind project to date, to be approximately $66 million.
Located 21 kilometres southeast of Drumheller, the Wintering Hills project, received regulatory approval from the Alberta Utilities Commission on June 7.
It will include 55 1.6 MW turbines made by General Electric.
Construction on the project began in July and is expected to be complete by the end of 2011.
At peak operation, Wintering Hills is expected to generate enough clean electricity to power approximately 35,000 Albertan homes, displacing the equivalent of approximately 200,000 tonnes of carbon dioxide per year.
Teck’s share price range during the last week: $39.80 to $40.05; 52-week high: $47.60; 52-week low: $28.50.