Kineticor Resource Corp. (Kineticor) announced that they have received all major approvals from the Alberta Utilities Commission and Alberta Environment and Parks for the 900 MW Cascade Power Project (Cascade). In addition to this significant milestone, Cascade has executed a series of long-term gas supply agreements to support the construction of Cascade, resulting in a highly contracted, construction ready project. The gas supply agreements represent long-term partnerships with high-credit quality, best-in-class gas producers including, but not limited to, Peyto Exploration and Development Corp. and Mitsubishi Corporation’s 100% subsidiary, Cutbank Dawson Gas Resources Ltd.
Once complete, Cascade is expected to be the most efficient combined cycle power plant in Alberta, producing approximately 62% less CO2equivalent per MWh than existing coal-fired generation, and at least 30% less CO2equivalent per MWh than a typical coal-to-gas conversion. Construction is anticipated to begin in Q2 2020. Once operational, the power generated from Cascade will be transmitted through the Alberta power grid creating efficient, reliable and economical electricity for the benefit of present and future generations of Albertans.
