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Category: Industry
Posted: Wed, Jul 31st 2019 at 7:23 AM
Toronto – Ontario Power Generation (“OPG”), under a new subsidiary, has entered into a purchase agreement with affiliates of TC Energy (formerly TransCanada Corporation) to acquire a portfolio of combined-cycle natural gas-fired plants in Ontario.

The role that natural gas plays in maintaining system reliability has become even more important with the addition of intermittent wind and solar generation in recent years. Natural gas is the partner or enabler of renewable energy, providing the flexibility required to ensure a reliable electricity system.”
-Ken Hartwick, OPG’s President and CEO
 
Key Facts About TC Energy Transaction
 
Acquiring portfolio of combined-cycle natural gas-fired plants in Ontario from affiliates of TC Energy:
    -100% ownership of Napanee Generating Station (900 MW)
    -100% ownership of Halton Hills Generating Station (683 MW)
    -Remaining 50% ownership of Toronto’s Portlands Energy Centre (50% of 550 MW)

In addition to these assets, OPG entered into a purchase and sale agreement with affiliates of Canadian Utilities Limited in June to acquire the remaining 50% interest in the 560MW combined-cycle natural gas-fired Brighton Beach Generating Station. OPG already owns 50% of the Brighton Beach Generating Station.

OPG is the largest electricity generator in the province, providing almost half the power Ontarians rely on every day. It is also one of the most diverse generators in North America with expertise in nuclear, hydro, biomass, solar and gas.

For further information, please contact:
Ontario Power Generation
416-592-4008 or 1-877-592-4008
Release via OPG website.

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