Pembina Pipeline Provides Update on Greenlight Electricity Centre

Executive Summary

• Pembina Pipeline and partner Kineticor provided a detailed update on the Greenhead Electricity Centre, a proposed up‑to 1,800 MW gas‑fired combined‑cycle power plant in Sturgeon County, Alberta.
• Key commercial milestones were disclosed: AESO secured 907 MW allocation, a demand transmission service agreement for that capacity, a conditional land purchase and sale agreement valued at ~​$190 million (net to Pembina), and a reservation agreement for two turbines guaranteeing equipment availability.
• The partners are targeting a Final Investment Decision in the first half of 2026, with start‑up of Phase 1 (≈ 900 MW) as early as 2030, which would increase natural‑gas demand in Alberta’s Industrial Heartland by ~​160 mmcf/d (potentially 320 mmcf/d at full capacity).

Key Details

• Project Scope: Multi‑phased gas‑fired combined‑cycle facility; up to ≈ 1,800 MW total capacity.
• Phase 1 Capacity: Approximately 900 MW, delivering ~​160 mmcf/d of natural‑gas demand (potentially double at full build).
• AESO Allocation: Secured a 907 MW allocation in Phase 1 of the Alberta Electric System Operator’s large load process; allocated to an identified “Customer.”
• Transmission Agreement: The Customer entered into a Demand Transmission Service agreement with AESO for the 907 MW, enabling grid connection as early as 2027.
• Land Transaction: Conditional purchase‑and‑sale agreement for land (including power connection) between Greenlight and the Customer; transaction valued at ~​$190 million net to Pembina, expected to close Q4 2025, with proceeds split between further project investment and debt reduction for Pembina.
• Equipment Reservation: Reservation agreement signed for two turbines with a reputable OEM, providing certainty on equipment availability and delivery timing for Phase 1.
• FID Timeline: Path to Final Investment Decision targeted for the first half of 2026, contingent on signing an energy supply agreement and EPC contracts.
• Natural‑Gas Supply Opportunity: Proximity of Pembina’s Alliance Pipeline could provide additional gas supply to support the project’s demand growth.

Notable Quotes

“Through their combined efforts, government, industry, and local stakeholders can capitalize on a multi‑billion‑dollar investment opportunity that will create jobs, foster innovation, and grow the economy,” – Scott Burrows, President & CEO, Pembina Pipeline Corp.

“Greenlight is making great progress on all the pieces required to successfully bring to fruition one of the largest power projects in Canada while supporting the significant load growth coming to Alberta,” – Andrew Plaunt, CEO, Kineticor.