16:31:59 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Capital Power Corp
Symbol CPX
Shares Issued 129,077,645
Close 2024-03-04 C$ 38.25
Market Cap C$ 4,937,219,921
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Globe says Capital Power mulls nixing Genesee project

2024-03-04 09:53 ET - In the News

The Globe and Mail reports in its Monday edition that Capital Power may need to abandon its plans for a major carbon-capture project at the Genesee generating station in Alberta. The Globe's Adam Radwanski writes that the project is one of the largest of its kind in Canada and would capture carbon emissions from the gas-fueled power plant. Capital Power is becoming increasingly frustrated with the negotiations surrounding a deal to use federal funds to provide revenue certainty, and may need to shelve the project as a result. Capital Power's frustration, expressed by senior vice-president Jason Comandante, is ostensibly with the Canada Growth Fund (CGF). The $15-billion federal financing agency, launched in 2023, has the task of delivering variations of carbon contracts for differences. These would be agreements that guarantee a minimum value for emissions-reduction credits earned under the country's industrial carbon-pricing system. "At some point, we need to get to a final discussion with [CGF] -- which is, can we land on a structure and a price within that structure that's going to allow us to move forward?" Mr. Comandante says, calling progress to date disappointing. "If we can't, then we will park the project."

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