Capital Power nabs 126-MW PPA for Alberta wind farm

Canadian power producer Capital Power Corp (TSE:CPX) and MEGlobal Canada ULC have signed a 10-year power purchase agreement (PPA) for MEGlobal to offtake 126 MW from Capital Power’s Whitla Wind farm.

The deal, announced today, means the power demand of MEGlobal’s Canadian manufacturing sites will be met with renewable energy from April 1, 2022. The company, a subsidiary of EQUATE Petrochemical Company KSCC and part of Kuwait’s EQUATE Group, has three facilities in Alberta that produce produce ethylene glycol.

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“Combined with our other renewable energy agreements, the additional phases of our Whitla Wind facility, representing a total of 151 MW of capacity, are now fully contracted for 100% of the energy generated and approximately 86% of the environmental attributes for 10 years,” said Capital Power senior vice president Chris Kopecky.

Whitla Wind is made up of phase one of 202 MW and the additional phases two and three, together 151 MW, which were completed in December 2021.