Overview
- Capital Power disclosed a binding memorandum of understanding to negotiate a 250‑megawatt electricity supply for an unnamed investment‑grade data‑centre developer in Alberta with an expected 2028 start.
- The company said confidentiality agreements prevent it from revealing the customer’s identity, budget or detailed timing at this stage.
- Capital Power highlighted its gas‑fired Genesee Generating Station west of Edmonton as a strong fit to serve the prospective load.
- A separate agreement with Apollo Global Management establishes a US$3‑billion partnership to acquire U.S. merchant natural‑gas plants, with Apollo contributing US$2.25 billion, Capital Power US$750 million, and Capital Power operating the assets for fees and a 25%–50% stake per deal.
- The announcements come as Alberta seeks up to $100 billion in data‑centre investment under a new provincial‑federal energy accord, while Capital Power issued 2026 guidance of $890 million–$1.01 billion in adjusted FFO and $1.57 billion–$1.77 billion in adjusted EBITDA, alongside 2030 growth targets.