- Capital Power Corporation (CPX) has signed a 10-year agreement with MEGlobal Canada ULC for the purchase of renewable energy from the Whitla Wind facility
- Capital Power is a North American power producer focused on sustainable energy
- The renewable energy will meet the needs at MEGlobal’s three facilities beginning April 1st
- The facilities produce ethylene glycol that is used to make essential products such as clothing, coolants, and construction materials
- The carbon displacement is equivalent to taking over 461,000 cars off the road for a year
- Capital Power Corporation (CPX) is up 0.43 per cent trading at $41.66 per share as of 11:30 a.m. ET
Capital Power Corporation (CPX) enters a 10-year agreement with MEGlobal Canada ULC for the purchase of renewable energy from the Whitla Wind facility.
Capital Power is a North American wholesale power producer focused on sustainable energy. It also invests in carbon capture and utilization to reduce carbon impacts.
Renewable energy is expected to meet the power needs at MEGlobal’s Canadian manufacturing facilities beginning April 1st.
MEGlobal has three operational sites in Alberta which are located in Fort Saskatchewan and Lacombe County. The facilities produce ethylene glycol that is used to make essential products such as clothing, coolants, and construction materials.
Combined with Capital Power’s other renewable energy agreements, the additional phases of its Whitla Wind facility are now fully contracted for 100 per cent of the energy generated and approximately 86 per cent of the environmental attributes for 10 years.
Whitla Wind consists of three phases. Phase 1 is owned by Capital Power L.P. and phases 2 and 3 are owned by Whitla 2 Wind Generation L.P.
The carbon displacement from the agreement is equivalent to taking more than 461,000 cars off the road for a year, recycling over 90 million bags of waste instead of dumping in landfills, or the amount of greenhouse gases sequestered by 35,000,000 tree seedlings grown for 10 years.
Capital Power Corporation (CPX) is up 0.43 per cent trading at $41.66 per share as of 11:30 a.m. ET.