TransCanada adds trio of Ontario solar facilities to portfolio
Three newly-built solar facilities each have generation capacities of 10-megawatts, according to TransCanada
TORONTO—TransCanada Corp. has added a trio of Ontario solar facilities to its portfolio of energy generation assets, bringing the company’s total number of solar plants in the province to seven.
According to the company, which is most famously known for its work in the oil and gas pipeline business, the three newly-built solar facilities—two in Temiskaming Shores, Ont., and one in Ingleside, Ont.—each have generation capacities of 10-megawatts.
Acquired from Canadian Solar Solutions Inc., the facilities were built at a combined cost of $182 million, according to TransCanada.
All three projects have started generating electricity under 20-year power purchase agreements with the Ontario Power Authority (OPA).
“As a company, we are proud that we have built a diversified portfolio that includes natural gas and liquids pipelines, as well as emission-less energy sources to meet market needs,” TransCanada president and CEO Russ Girling said in a statement.
“Each year, we do more to reduce our own emissions and develop technologies to help us operate in a more environmentally sustainable way, while ensuring that Ontario’s energy consumers continue to have their needs met.”
The Calgary-based company said its solar investment in Ontario now sits at nearly $400 million.
TransCanada said it also expects to receive final permits by the end of this year to build a 900-megawatt natural gas-fired combined cycle power plant in Greater Napanee, Ont.
Construction is slated to begin in early 2015, with the facility to begin service in 2017 or 2018.
TransCanada has a 20-year power purchase agreement with the OPA for electricity generated at that plant.