Pembina Pipeline, together with Morgan Stanley Infrastructure Partners and Kineticor Asset Management, has approved a C$4.6bn (US$3.2bn) final investment decision for the Greenlight Electricity Centre gas-fired power plant. The facility will use Siemens Energy gas and steam turbines, marking Pembina’s entry into power generation and diversifying its pipeline-centric portfolio.
Pembina Pipeline, Morgan Stanley Infrastructure Partners and Kineticor Asset Management announced the final investment decision for the Greenlight Electricity Centre, sanctioning the C$4.6bn gas-fired power station. This step formalizes capital commitments and transitions the project from development to execution phase.
Greenlight Electricity Centre will deploy Siemens Energy gas and steam turbines and integrate with existing natural gas infrastructure to supply electricity to regional grids. High-efficiency turbine technology is expected to enhance output reliability compared with legacy facilities.
The investment marks Pembina’s entry into power generation, diversifying its asset base beyond pipelines and midstream services. The project will require substantial debt and equity financing, potentially impacting leverage and credit metrics in the near term.
