ENMAX Energy Corporation (ENMAX), through subsidiaries, has executed agreements with Encana Corporation to purchase natural gas-fuelled electricity generation assets at two locations, increasing ENMAX's electricity supply by 170 megawatts (MW).
"Purchasing these facilities fits our plan to grow ENMAX's supply of more efficient generation with lower GHG emissions than existing coal-fired plants," said Gianna Manes, ENMAX President and CEO. "This investment also positions us to meet the growing electricity needs of our customers across Alberta."
Under the agreements, ENMAX will purchase 100 per cent of Encana's 115 MW gas-fuelled Cavalier plant, located near Strathmore, Alberta and Encana's 50 per cent interest in a 110 MW gas-fuelled plant in Balzac, Alberta, which it jointly owns with Nexen Inc. Once the purchase has closed, ENMAX will be the operator of the Cavalier plant and Nexen will remain the operator of the Balzac facility.
The purchases are expected to close later this year following all regulatory approvals.
ENMAX Corporation, through its subsidiaries, makes, moves and sells electricity to residential, small business and large commercial customers and is headquartered in Calgary, Alberta, with offices in Edmonton. ENMAX Power Corporation owns and operates transmission and distribution infrastructure in Calgary and ENMAX Energy owns diverse electricity generation facilities throughout the province. Since 2007, ENMAX Corporation has been named one of Alberta's Top Employers. ENMAX Energy is currently the retailer of choice for both The City of Calgary and The City of Edmonton.
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