Newly retooled Alberta plant poised for data centre opportunities, says Capital Power
Global News
The power plant southwest of Edmonton now runs entirely on natural gas instead of coal after a $1.6-billion multi-year project.
Electricity producer Capital Power Corp. says its recently retooled Genesee Generating Station positions the company well to seize data centre opportunities in Alberta.
The power plant southwest of Edmonton now runs entirely on natural gas instead of coal after a $1.6-billion multi-year project, allowing it to boost its capacity by around 60 per cent while cutting greenhouse gas emissions by 40 per cent.
Chief executive Avik Dey urged analysts on a quarterly earnings conference call to be patient as they await details on a potential data centre project drawing power from Genesee, saying such undertakings are complicated and take time.
Alberta’s technology minister has said the province hopes to see $100 billion worth of artificial intelligence data centres under construction in the next five years – massive operations that require an immense amount of electricity to run and cool off computer servers.
For the last three months of 2024, Edmonton-based Capital Power brought in $240 million in net income attributable to shareholders, or $1.75 per diluted share, up from $97 million, or 74 cents per diluted share in the same period a year earlier.
Revenues and other income for the quarter decreased to $853 million from $984 million during the fourth quarter of 2023.
For all of 2024, Capital Power had net income attributable to company shareholders of $699 million, or $5.15 per diluted share, down from $744 million, or $6.04 per share in 2023.
Annual revenues in 2024 were $3.78 billion, down from $4.28 billion.
Technology Minister Nate Glubish says such images, known as deepfakes, can cause people serious harm and that changing the law should create a new layer of protection.
Renters in Quebec may soon have final say over whether they're allowed to keep pets in their homes following a legal ruling that no-pet clauses in leases violate Charter rights.
Alberta RCMP say they have located a Grey 2022 Ford F-150 involved in the fatal highway shooting of an Edmonton man earlier this month. The suspect remains at large.
Education Minister Paul Calandra, however, said he won't use the notwithstanding clause if he moves to eliminate trustees in Ontario.
U.S. President Donald Trump said on Sunday that he would order federal immigration agents to airports to assist TSA. Canadians landing the U.S. should be prepared.
Three overpasses in Saskatoon have been hit in the past three weeks, with charges announced against the driver in the first incident.
Auditor General Karen Hogan says there are critical weaknesses in the integrity controls for the International Student Program.
Return trips by Canadian residents from the U.S. fell 22 per cent in January compared with a year earlier, according to the latest data.
Three byelections are being held on April 13 and the results could have an impact on both the makeup of Parliament and how long it lasts.
Ontario's provincial members of parliament are heading back to Queen's Park Monday, as the legislature sits for the first time since December.
Members of Parliament are back in the House of Commons today, where the government is expected to face tough questions about new auditor general reports and the war in Iran.
Two Air Canada pilots are dead after their flight originating from Montreal collided with a fire truck at New York’s LaGuardia Airport Sunday night.
With more rain in the forecast, crews continue to deal with a mudslide earlier this week that covered a road in Coquitlam in debris, posing risk to Metro Vancouver's water supply.