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Vol. 14, No. 40 Week of October 04, 2009
Providing coverage of Alaska and northern Canada's oil and gas industry

TransCanada lands 20-year contract for 900-megawatt Ontario power plant

TransCanada has won a 20-year contract from the Ontario Power Authority to build, own and operate a 900-megawatt power plant in Oakville, Ontario.

Calgary-based TransCanada, which made the announcement Sept. 30, said it expects to invest C$1.2 billion in the natural-gas-fired plant. The plant is scheduled to start producing power by the end of 2013.

According to the Ontario Power Authority, the new plant will provide the reliability required to support Ontario’s growing renewable energy electricity production such as wind and solar and contribute toward replacing coal-fired generation.

The Province of Ontario has said it expects to shut down all its coal-fired power generation facilities by 2014, and needs additional power for the growing region southwest of Toronto, where peak load demand is growing twice as fast as in the rest of Ontario.

“We look forward to providing additional electricity supply and reliability within this key North American market,” said Hal Kvisle, TransCanada’s chief executive officer. “This facility strengthens our presence as the largest private sector power company in Ontario and Canada. The Oakville generating station is a strong fit with our strategy of developing large scale energy infrastructure projects that will produce stable, long-term returns for our shareholders.”

Approximately 600 construction jobs will be created during a 28-month construction period. Another 25 permanent jobs will be created to support plant operations, TransCanada said in a press release.

The power authority and TransCanada expect to have the contract completed by mid-October. The next steps include completing an Environmental Review Report. Emissions from the plant “will meet or better all environmental regulatory standards,” TransCanada said.

The company must receive approval from the Ministry of the Environment on impacts such as air quality and noise before construction of the facility can proceed. Local community input is “very important,” TransCanada said, noting “extensive consultations will continue with stakeholders.”

—Petroleum News



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