Ontario Power Generation (OPG), under a new subsidiary, has entered into a purchase agreement with affiliates of TC Energy (formerly TransCanada Corporation) to acquire a portfolio of combined-cycle natural gas-fired plants in Ontario.
Total purchase price for this acquisition is CAD2.87 billion (US$2.18 billion) subject to customary closing adjustments. The transaction is also subject to receipt of standard regulatory approvals. Future profits generated from these assets will stay in Ontario for the benefit of Ontarians. RBC Capital Markets acted as a financial advisor to OPG on this transaction.
Acquiring portfolio of combined-cycle natural gas-fired plants in Ontario from affiliates of TC Energy:
In addition to these assets, OPG entered into a purchase and sale agreement with affiliates of Canadian Utilities Limited in June to acquire the remaining 50% interest in the 560 MW combined-cycle natural gas-fired Brighton Beach Generating Station. OPG already owns 50% of the Brighton Beach Generating Station.
OPG is the largest electricity generator in the province, providing almost half the power Ontarians rely on every day. It is also one of the most diverse generators in North America with expertise in nuclear, hydro, biomass, solar and gas.
Suffield Solar, a subsidiary of Canadian Solar, and Direct Energy Business, part of Direct Energy, have announced that they have signed a long-term agreement to purchase all electrical output and asso...
Read moreCanada Infrastructure Bank (CIB) and Lulu Island Energy Company have announced the signing of a Memorandum of Understanding (MOU) formalizing their collaboration to develop a new district energy proje...
Read moreThe Government of Nova Scotia has updated the competitive bidding process for new renewable energy projects that will supply power for facilities owned by the federal state in the province. Nov...
Read moreRenewable energy developer, BayWa re, is taking over the Canadian solar distributor and service provider National Solar Distributors Inc. Established in 2014, National Solar Distribut...
Read moreNorth35 Capital Partners, an Indigenous-led advisory firm today entered into a Development Agreement with Graham Capital, the equity developer of public infrastructure and public-private partnerships...
Read more