Atura Power, a newly created subsidiary of the Canadian energy group Ontario Power Generation (OPG), has completed the acquisition of a portfolio of three CCGT power plants in Ontario (Canada) from TC Energy for CAD2.8bn (US$2bn). It includes 100% of Napanee Generating Station (900 MW), 100% of Halton Hills Generating Station (683 MW) and the remaining 50% stake in Toronto’s Portlands Energy Centre (50% of 550 MW). In addition, Atura Power has completed the acquisition of the remaining 50% interest in the 560 MW combined-cycle natural gas-fired Brighton Beach Generating Station. The four power plants will be operated under the Atura Power brand, which was created to operate strategic gas-fired power plants.
In August 2019, TC Energy (former TransCanada) decided to sell interests in three gas-fired CCGT power plants in Ontario (Canada) to a subsidiary of Ontario Power Generation. TC Energy retains investments in six gas-fired power plants in Canada and the Bruce Power nuclear power plant, corresponding to an installed capacity of around 4,200 MW. The group is currently investing in extending the lifetime of its Bruce Power nuclear power plant by 2023 under a CAD2.2bn (US$1.7bn) investment programme, which could be raised by CAD 6bn (US$4.6bn) under a long-term agreement with the Ontario Independent Electricity System Operator.
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