Fengate buys gas-powered cogeneration facility from Inter Pipeline
Fengate Real Asset Investments has acquired the Heartland Petrochemical Complex’s central utility block (CUB) from Inter Pipeline Ltd (TSX: IPL), a Calgary-based energy infrastructure company. Terms weren't disclosed. The deal will see Inter Pipeline recover its development capital and Fengate assume responsibility for funding CUB construction. Capital costs are estimated at $600 million. CUB is a 102 megawatt natural gas-powered cogeneration facility capable of supplying Inter Pipeline with utilities for Heartland, a propane dehydrogenation and polypropylene plant. It is expected to be in service by mid-2021. Inter Pipeline will oversee CUB construction and operation.
25 September 2018•3 mins read
