Suncor Energy Inc.

Suncor Energy Inc.

September 24, 2007 00:00 ET

Suncor Energy and Acciona celebrate first wind power project in Ontario

The 76-megawatt Ripley wind farm represents an investment of $176 million.

All figures are in Canadian dollars.

Ripley, Ontario (September 24, 2007) — Suncor Energy Products Inc. and Acciona Energy today celebrated the dedication of their first wind power project in Ontario. The $176 million Ripley Wind Power Project is a 38-turbine, 76-megawatt joint venture project.

The Honourable Dwight Duncan, Minister of Energy and Member of Provincial Parliament Windsor-St. Clair, and Carol Mitchell, Member of Provincial Parliament Huron-Bruce, joined company executives and guests for the facility's official opening ceremony.

The Ripley wind farm is expected to generate enough clean electricity to power approximately 24,000 Ontario homes and displace the equivalent of at least 66,000 tonnes of carbon dioxide per year.

Construction and start up of the facility is currently under way. Once complete, the project will consist of 38 two-megawatt wind turbines, a 27-kilometre transmission line and two electrical substations. Electricity will be sent to the Ontario Power Authority for sale as green power.

The wind power project is located on the eastern shores of Lake Huron in Huron-Kinloss Township, approximately 220 kilometres west of Toronto and 140 kilometres north of London.

The companies also announced a joint $30,000 gift to the Township of Huron-Kinloss in recognition of their support for the project. The money will go toward the township's Lewis Park enhancement fundraising effort.

A community celebration will take place on September 25 at Ripley's Lewis Park to thank residents for their support.

The Ripley project is the third wind farm jointly owned by Acciona and Suncor. The companies co-own the Alberta-based Magrath and Chin Chute wind farms, 30-megawatts each, in partnership with Enbridge Income Fund.

This news release contains forward-looking statements that address goals, expectations or projections about the future. These statements are based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Some of the forward-looking statements may be identified by the words "expected," "will," and similar expressions. These statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

Acciona Energy is the largest wind developer in the world with a portfolio of 4,697 megawatts installed in 172 wind farms in 10 countries (3,465 owned by the company). The company manufactures wind turbine generators using in-house technology. In solar energy, Acciona's Nevada Solar One project represents the largest solar thermal electric power plant (64 MW) built in the world in the last 16 years, in addition to the company's 31 MW installations of photovoltaic power and a 46 MW photovoltaic solar plant under development in Portugal. In the area of biomass, Acciona operates three  plants (33 MW) and 19 small hydro power plants (59 MW). In biofuels, the company produces biodiesel from vegetable oils and bioethanol from surplus wine.   

Acciona is one of the premier international corporations working in the development and management of infrastructure services and renewable energy sources, employing more than 38,000 people worldwide. Acciona is listed on the IBEX-35 in Spain with a market capitalization of more than $14.6 billion.

For more information, please visit the company's website at www.acciona-energy.com.

Suncor Energy Products Inc. is a wholly-owned subsidiary of Suncor Energy Inc., an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout Western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include refining operations in Colorado and retail sales in the Denver area under the Phillips 66 brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.

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For more information:

Lena Stinsa
Acciona Energy North America
Tel: (312) 673-3021

Coral Hulse
Suncor Energy Inc.
Tel: (403) 205-6828