OPTrust backs Kineticor's buy of power facility, invests $125 mln
Kineticor Resource Corp has partnered with Canadian pension fund OPTrust in the acquisition of a partially-constructed 690 megawatt cogeneration plant located near Peace River, Alberta. No financial terms were disclosed. Kineticor, which bought the plant from Shell Canada, will repurpose it as a standalone facility called the Three Creeks Power Plant. It was also announced that OPTrust will invest $125 million in Kineticor, a Calgary-based power producer focused on gas-fired generation in Canada. The proceeds will support the company's current and future growth initiatives.
17 February 2017•2 mins read
