Cascade Power Project

Province: Alberta

City/Region: Yellowhead County

Image Credit: Kineticor Resources

NR

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Project Start: 2020

Project End: 2023

Project Type: Natural Gas

Industry Sector: Energy

Project Amount: $1.5 billion

Date of Completion: 2023

Funding Source: Private

Private Funding: $1.5 billion

Previous Rankings

202346
202247
202143

About The Project

The Cascade Power Project is a 900 Megawatt (MW) combined cycle natural gas-fired generating facility, being constructed approximately 12 kilometres southwest of Edson in Alberta’s Yellowhead County.

Upon completion, the new plant will have the caapcity to supply up to eight per cent of the province’s overall current energy needs.

Financial close on the project was reached in August 2020. Construction is underway and is scheduled for completion sometime in 2023.

Project Owner: Kineticor Resource Corp.

Project/Construction Manager: PCL

Engineer: PCL/ Black & Veatch JV (engineering design); McElhanney (consulting)

Contractor: Graham (Phase 1)

Other Key Players: EY (advisor to AIOC)

Financiers & Banks: Macquerie Capital, OPTrust (joint development sponsors); OPTrust, Axium Infrastructure, DIF Capital Partners (project sponsors)

Other Suppliers: Siemens (2x SCC6-8000H Power Trains)

Legal: Osler (advisor for Kineticor); Stikeman Elliott LLP

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