Genesee Repowering Achieves Commercial Operations

The energy landscape is evolving, and Capital Power Corporation (TSX: CPX) is at the forefront of this transformation. The company's Genesee Repowering project, which aimed to repower Units 1 and 2 to natural gas combined cycle (NGCC) generation, has achieved commercial operations. This significant milestone not only increases overall capacity but also reduces CO2 emissions, contributing to Capital Power's commitment to net zero by 2045.

The Genesee Repowering project, completed at a cost of approximately $1.6 billion, involved installing two new Mitsubishi M501JAC gas-fired combustion turbines and Vogt triple-pressure heat recovery steam generators. The project, which began construction in summer 2021, required more than 5.8 million hours of labour and peaked at ~1,250 workers on site. The repowered units are expected to set a new standard for gas generation efficiency in Canada.

The completion of the Genesee Repowering project has resulted in a ~60% increase in capacity, with the Genesee Generating Station now capable of delivering up to 1,857 MW of reliable, affordable, and cleaner power for Alberta's thriving economy. This increase in capacity, coupled with a ~40% reduction in emissions, demonstrates Capital Power's commitment to responsible energy production and sustainable practices.



The repowered units also achieve at least a 50% water usage reduction, further enhancing the project's sustainability. These environmental benefits align with Capital Power's dedication to delivering reliable and affordable power while minimizing its environmental impact.

The Genesee Repowering project is a testament to Capital Power's commitment to innovation and sustainability. By repowering legacy facilities, the company is demonstrating that there is a valuable life after coal for these assets. This project not only increases overall capacity but also reduces emissions, contributing to a more sustainable energy future.

As an investor, it's essential to consider companies like Capital Power that are at the forefront of the energy transition. Their commitment to sustainability, innovation, and responsible energy production makes them an attractive investment opportunity in the evolving energy landscape. By investing in companies like Capital Power, investors can contribute to a more sustainable future while potentially reaping the benefits of their growth and success.