Suncor and Teck team up on wind power

Article Excerpt

SUNCOR ENERGY INC. $35 (Toronto symbol SU; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.6 billion; Market cap: $56.0 billion; Price-to-sales ratio: 1.5; Dividend yield: 1.1%; SI Rating: Average) is building an 88-megawatt wind farm in Alberta. It should begin generating electricity by the end of 2011. TECK RESOURCES LTD. $44 (Toronto symbol TCK.B; Conservative Growth Portfolio, Resources sector; Shares outstanding: 589.5 million; Market cap: $25.9 billion; Price-to-sales ratio: 2.7; Dividend yield: 0.9%; SI Rating: Average) recently paid Suncor $66 million for 30% of this new wind farm. That means the entire project is worth $220 million. Building renewable-energy projects helps Suncor and Teck win favour with environmental regulators. As well, many governments require power-distribution utilities to pay producers higher rates for electricity from renewable sources. T T..