embina Acquires 50% Stake In Greenlight Electricity Centre With Kineticor; 1,800 MW Facility Includes Carbon Capture, Data Centre Plans; Financial Terms Not Disclosed

Author: Benzinga Newsdesk | February 27, 2025 05:21pm

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.

Posted In: PBA TSX:PPL