TC Energy Forecasts Growth With C$1.5B Projects and Higher 2025 EBITDA

Core Viewpoint - TC Energy Corporation (TRP) has provided a positive fiscal 2025 guidance, estimating a comparable EBITDA between C$10.7 billion and C$10.9 billion, reflecting growth from its 2024 outlook [1][2][16] Group 1: Demand and Growth Drivers - The anticipated increase in EBITDA for FY2025 is primarily driven by the rising demand for natural gas, which is becoming essential as the world shifts towards cleaner energy sources [3][16] - TC Energy is strategically enhancing its infrastructure to meet the growing energy demands across North America, particularly in natural gas and nuclear power [2][4] Group 2: Key Projects - TC Energy is investing C$1.5 billion in four key growth projects, including the Pulaski and Maysville projects, each with a C$400 million investment aimed at converting coal-fired power plants to natural gas [4][5] - The Southeast Virginia Energy Storage Project, a C$300 million LNG peaking facility, is designed to address energy demand during winter peak days [7][8] - An investment of C$175 million in the Bruce Power nuclear facility aims to increase its peak production capacity to 7,000 MW, supporting Ontario's low-carbon electricity needs [9][10][11] Group 3: Financial Stability - Approximately 97% of TC Energy's estimated revenues are secured through rate regulation and long-term take-or-pay contracts, providing a stable financial outlook [12][13] - These contracts ensure a reliable income stream, allowing the company to make long-term investments with confidence [12][13] Group 4: Future Prospects - TC Energy's strategic investments in natural gas and nuclear energy position the company for continued success, with plans to diversify its energy portfolio further [14][15] - The company is focused on meeting the increasing reliance on electrification and decarbonization, which will drive the need for additional infrastructure and innovative solutions [15][16]