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CALGARY, AB, Feb. 27, 2025 /CNW/ - Kineticor Asset Management LP ("Kineticor") is pleased to announce that Pembina Pipeline Corporation ("Pembina") (TSX: PPL) (NYSE: PBA) has entered into agreements for a 50 percent interest in the Greenlight Electricity Centre Limited Partnership ("Greenlight LP" or "Greenlight"), a special-purpose limited partnership with Kineticor Holdings LP #3, a portfolio company of OPTrust.
Greenlight LP is developing the Greenlight Electricity Centre ("GLEC" or "Project") which is a proposed multi-phased gas-fired combined cycle power generation facility of up to 1,800 MW with carbon capture optionality coupled with significant land holdings that can accommodate a co-located 1,800 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 fiber in Alberta's Industrial Heartland.
The GLEC is managed by Kineticor, which successfully developed, constructed, and currently operates the 900 MW Cascade Power Plant near Edson, Alberta.
"We are excited to be partnering with Kineticor and for the opportunity to further extend our value chain to provide power to a promising new Alberta-based data centre industry," said Stu Taylor, Pembina's Senior Vice President & Corporate Development Officer. "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."
"We are thrilled to partner with Pembina on this transformative project," said Andrew Plaunt, CEO of Kineticor. "Alberta's Industrial Heartland is one of the best locations in the province to facilitate a project of this magnitude given the large land base, robust grid infrastructure, and potential for decarbonization solutions over time. By partnering with Pembina, we can leverage and combine our individual strengths and experience in major infrastructure projects to bring all the pieces together to develop a world class facility."
Power Generation to Support Alberta's Growing Data Centre Demand
The GLEC is 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 1,800 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 optionality to supply power to a co-located data centre or feed directly into Alberta's power grid to support data centre loads across the province.