TransCanada Corporation (TSX:TRP; NYSE:TRP) announced that it has completed construction of New England’s largest wind power project. The US$350 million Kibby Wind Power Project is now fully operational and was finished on time and on budget, the company said.
The 132 megawatts (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 wind jobs 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.
Maine has a goal of producing 2,000 MW of renewable in-state energy generation by 2015.
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%) is underway, with the additional 270 MW to come online by the end of 2012.
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’s primary business is oil and gas transport and storage. The company is currently developing a large pipeline to deliver oil from tar sands projects in Alberta to the U.S. (Read a recent blog post by Peter Lehner of NRDC.)
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