2nd TransAlta wind project for Quebec's Gaspe region

TransAlta Corp. has announced plans for a $205-millionwind power project along Quebec's Gasp shore its second such project in the area.

The Calgary-based company said the New Richmond development will include 33 wind turbines that will generate 66 megawatts of power enough energy to power 10,500 homes.

The company has signed a 20-year power purchase agreement with Hydro-Quebec.

"Building our presence in a key market such as Quebec is an important part of our goal to enhance shareholder value, as well as strengthen our position as the premier wind power generator in Canada," TransAlta chief executive Steve Snyder said in a news release.

The Quebec government issued a permit Monday that allows TransAlta to begin pre-construction work next month. Construction of the wind project will create about 100 jobs. Commercial operation of the facility is scheduled to begin in late 2012.

"From a strategic perspective, the project continues to further TransAlta's strategy to green the portfolio and increase contracted cash flows," RBC Capital Markets analyst Robert Kwansaid in a research note.

TransAlta's other wind farm in Quebec is the 99-megawatt Le Nordais facility, which is also in the Gasp.