The Alberta Utilities Commission on Sept. 30 approved certain changes in control related to the Poplar Creek cogeneration plant.
On Aug. 28, Suncor Energy filed an application related to the change of ownership of the Millennium power plant, which forms a part of the Poplar Creek cogeneration facilities located near Fort McMurray, Alberta. The commission on July 29 had approved the change of ownership of the Millennium power plant from TransAlta Energy Corp. to Suncor.
In this latest application, Suncor wanted the approval amended to reflect a change in the sale transaction. Suncor stated that the sale transaction now includes the leasing by it of two natural gas-fueled combustion turbines, each with a generating capability of 115 MW, from TransAlta. To facilitate the leasing arrangement, Suncor stated that TransAlta would transfer ownership of these two natural gas-fueled combustion turbines to TA Poplar Creek LP, a wholly owned subsidiary of TransAlta. TA Poplar Creek Inc., as general partner of TA Poplar Creek LP, would hold title to these two combustion turbines on behalf of the limited partnership.
In addition, Suncor would purchase two steam turbines with a nominal generating capability of 60 MW and 70 MW, respectively. Suncor also applied to have the approval reflect the closing date of the transaction as Aug. 31.
TransAlta Corp. (TSX: TA) (NYSE: TAC) announced July 7 that it had agreed with Suncor Energy to restructure its current arrangement for the power generation services of its oil sands base site near Fort McMurray, Alberta, and to acquire Suncor’s interest in two wind projects located in Alberta and Ontario. TransAlta’s Poplar Creek cogen, which has a maximum capability of 376 MW, had been built for and contracted to provide steam and electricity to Suncor until 2023. The plant began operations in 2001.