Pembina & Kineticor Announce Joint Venture for the Greenlight Electricity & Data Centre Complex

Company Overview - Kineticor Asset Management LP has partnered with Pembina Pipeline Corporation to acquire a 50 percent interest in the Greenlight Electricity Centre Limited Partnership [1] - Pembina is a leading energy transportation and midstream service provider with over 70 years of experience in North America's energy industry [9] - Kineticor has a portfolio exceeding 2,700 MW in various stages of development and operations [8] Project Details - The Greenlight Electricity Centre (GLEC) is a proposed multi-phased gas-fired combined cycle power generation facility with a capacity of up to 1,800 MW, including carbon capture optionality [2] - GLEC will be developed in modular phases of approximately 450 MW each, scaling with market demand, up to a maximum initial design of 1,800 MW [5] - The project is strategically located in Alberta's Industrial Heartland, near transmission lines and utility infrastructure [2][4] Market Demand and Strategy - The GLEC aims to support Alberta's growing data centre industry, which is expected to drive increasing electricity needs [5] - The Government of Alberta has set a target of attracting $100 billion in data centre investments by 2030, promoting the need for reliable power solutions [7] - Pembina and Kineticor are committed to delivering cost-effective power solutions to data centres in the province [7] Development Progress - GLEC is currently in Stage 3 of the Alberta Electric System Operator (AESO) interconnection process, progressing through permitting, design, and contracting [5] - Greenlight is targeting grid interconnection in early 2027 and is engaging with customers for long-term power offtake agreements [6] - The facility's location near Edmonton provides access to a skilled labor force, enhancing its development potential [6]