Suncor keeps 2020 oil budget flat, approves $300 million wind farm project
|globalnews.ca 03 Dec 2019 at 12:27|
The Calgary-based company says its capital budget for 2020 will rise by about 10 per cent to a mid-point of $5.7 billion from this year’s $5.15 billion.
Suncor announced it has sanctioned the first 200-megawatt phase of its Forty Mile Wind Power Project, which received Alberta regulatory approval last spring. About 25 per cent of the capital cost is expected to be incurred this year and the remainder in 2020 and 2021.
Suncor say the project is a key component of its sustainability strategy as it targets cutting its greenhouse gas intensity by 30 per cent by 2030.