Kineticor Asset Management has entered into an agreement with Pembina Pipeline Corporation for a 50 % interest in the Greenlight Electricity Centre Ltd Partnership, a special-purpose limited partnership with Kineticor Holdings LP, a portfolio company of OPTrust.
Greenlight LP is developing the Greenlight Electricity Centre project which is a proposed multi-phased gas-fired combined cycle power generation facility of up to 1800 MW, with carbon capture optionality coupled with significant land holdings that can accommodate a co-located 1800 MW data centre complex. The Project would be constructed on land already zoned for heavy industrial use and strategically located near transmission lines, utility infrastructure, carbon sequestration, and fibre in Alberta’s industrial heartland.
GLEC is managed by Canada-based Kineticor, which developed, constructed, and currently operates the 900 MW Cascade power plant near Edson, Alberta.
Stu Taylor, Pembina’s senior vp and corporate development officer, commented: “In addition to our direct investment in Greenlight, Pembina is well positioned to leverage its existing and future asset base to further support the project. The proximity of our Alliance Pipeline offers a potential opportunity to provide natural gas supply to the GLEC, and the potential future development of the Alberta Carbon Grid may provide a future emissions reduction solution.”
GLEC is said to be one of the largest and most advanced baseload power developments in Alberta. Designed to meet the increasing electricity needs driven by the province’s growing data centre industry, the facility will be developed in modular phases of approximately 450 MW each to scale with market demand, up to a maximum initial nameplate design of 1800 MW. The power generation facility is currently in Stage 3 of the Alberta Electric System Operator (“AESO”) interconnection process, and is progressing through permitting, design, and contracting. GLEC has the options of supplying power to a co-located data centre, or feeding directly into Alberta’s power grid to support data centre loads across the province.
