Suncor Energy Makes Equity Investment in Renewable Energy

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TO BUSINESS AND ENVIRONMENTAL EDITORS:

Suncor Energy Makes Equity Investment in Renewable Energy

Agreement with Northern Power Systems furthers plan to develop alternative and renewable energy business

(All financial figures are in Canadian dollars unless noted otherwise.)

CANADA, ALBERTA, CALGARY, Feb. 12 -/E-Wire/-- Suncor Energy Inc. announced today its subsidiary Sunoco Inc. has made an equity investment of $3 million in Northern Power Systems of Waitsfield, Vermont - a commercial developer of renewable energy including power generation from solar and wind.

"Northern Power Systems is one of the world's best developers of renewable energy solutions," said Gerry Manwell, Suncor's vice president of alternative energy business development. "By investing in Northern, Suncor has taken another step toward developing, producing and marketing renewable energy - a key component of our long-term vision to become a sustainable energy company."

In addition to acquiring a minority equity investment in Northern, the two companies have signed a letter of intent to form a joint venture to develop large-scale wind power generation and other renewable energy projects in Canada.

When the joint venture is formed, Northern and Suncor plan to systematically assess the energy needs of small communities in Canada and design and market renewable energy solutions that are environmentally beneficial and cost-effective.

"By bringing Suncor and Northern together, we intend to provide the expertise and know-how needed to help build a renewable energy industry in Canada. We plan to be a full service developer that can design, install and support renewable energy projects," said Manwell. "Northern has long-term experience in providing engineering, procurement and construction services to support a viable renewable energy industry. And, as the first commercial developer of the Athabasca oil sands, Suncor has a proven track record in pioneering new energy sources."

Early last year Suncor announced plans to invest up to $100 million by 2005 to develop an alternative and renewable energy business. Investment options being considered by Suncor include research and development projects and commercial ventures that could include investments in run-of-river hydro power, producing energy from biomass, recovering methane from landfills, and developing solar and wind power.

This release contains forward-looking information. Suncor Energy and Northern Power Systems have not yet formed a joint venture and this formation is not assured. Actual results achieved by such a joint venture, if formed, could differ materially from those described herein, as a result of a number of factors, risks and uncertainties, known and unknown. Further discussion of the risks, uncertainties and other factors that could affect these plans and any actual results are described in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

For information about Suncor Energy Inc., please visit our website at www.suncor.com.

BACKGROUND INFORMATION

Northern Power Systems (Northern) designs, builds and installs power systems for customers who are either remote from the utility grid or wish to enhance their utility service with distributed generation. Northern integrates proven technologies into power solutions for industrial infrastructure. The Company also provides engineering services to wind power developers, as well as designing wind turbines and their controls. Northern has a 25-year history in the commercial application of wind, photovoltaic, and diesel hybrid power, having completed over 800 power installations on all seven continents.

Northern is comprised of four main business groups. The Remote Power group serves the oil and gas, telecommunications and utility transmission industries, as well as fulfilling military and government contracts for mission critical power at isolated sites. The Renewable Energy group provides engineering, analysis, and contracting services to wind farm developers and creates sustainable energy solutions for commercial, industrial and government clients. The Distributed Generation group designs and installs on-site generation and energy storage systems that ensure the highest levels of power quality and reliability. The generation systems often incorporate combined heat and power for high efficiency. The Wind Turbine Technology group designs innovative direct drive wind turbines and their associated power conditioning and control technology. Northern was recently honored with R&D; Magazine's prestigious R&D; 100 Award for the design of its NorthWind 100 Cold Weather Turbine.

Suncor Energy Inc. (Suncor) is an integrated Canadian energy company. Suncor's Oil Sands business mines and upgrades oil sand and markets custom- blended refinery feedstocks and premium transportation fuels, near Fort McMurray in Northern Alberta. Suncor is also a conventional natural gas producer in Western Canada; operates a refining and marketing business in Ontario under the Sunoco brand; and is pursuing an oil shale development project in Australia. At the same time as Suncor meets today's energy needs, the company invests in alternative and renewable energy for the future. Suncor Energy's common shares (symbol SU) and preferred securities are listed for trading on the Toronto and New York stock exchanges.

In 1997, Suncor (under the Sunoco brand) was the first major gasoline retailer to offer cleaner burning ethanol-enhanced gasoline in the Ontario market. Since 1998, it has funded wind power generation in Alberta and in January 2000, the Company announced plans to invest $100 million in renewable and alternative energy projects by 2005. Currently the Company is pursuing opportunities in areas such as wind power, solar power, run-of-river hydro power and energy production from biomass and municipal solid waste.

This commitment to invest in alternative and renewable energy fits into the Company's plan to address the risk of global climate change. The plan includes managing Suncor's own emissions, as well as seeking ways to offset those emissions. Actions taken by Suncor to date include a pioneering emissions trade with Niagara Mohawk Power Corporation, a major reforestation pilot project in Australia, a forest conservation project in Belize, and supporting climate change education and training programs.

Media: Lisa Falkowsky, Suncor Energy Inc., (403) 205 6966, Hilton Dier III, Northern Power Systems, (804) 496 2955 ext. 253, www.northernpower.com;

Investor Relations: John Rogers, Suncor Energy Inc., (403) 269 8670; To request a free copy of this organization''s annual report, please go to www.newswire.ca and click on reports@cnw

http://www.suncor.com

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