Powering change with balanced energy solutions
North America’s energy landscape is evolving rapidly unlike anything we’ve ever seen in our history. Unprecedented power demand from customers due to AI, electrification, industrial reshoring, and population growth have taken us from an energy transition into a full-blown energy expansion. As this demand rises (experts predict that data centre electricity consumption alone will double by 2030), so does the expectation of our customers for reliable, affordable, and lower-carbon power.
At Capital Power, we see this as a tremendous opportunity to deliver the balanced energy solutions North America needs. Guided by our strategy, we’re invested in renewables, the advancement of lower-carbon solutions, and flexible generation. This includes natural gas, which ensures critical grid stability that our customers can depend on while facilitating growth in solutions like batteries and renewables.
Leaders in powering the energy expansion
Our diverse generating portfolio includes 14 strategically located natural gas facilities with over 8,000 MW of owned generation across Canada and the U.S., making Capital Power the fifth largest natural gas independent power producer in North America. Many of these facilities have immense opportunity for growth and optimization. This, along with our focus on exploring opportunities to acquire new facilities, is foundational to ensuring we can deliver reliable and affordable power today, while preparing to meet growing power demand for tomorrow.
Investing in our existing flexible generation assets
In 2024, we proudly completed our Genesee Repowering project in Alberta, transforming the facility from coal to 100% natural gas five years ahead of the government mandate. The Genesee facility is now Canada’s most efficient natural gas combined cycle plant. Completing this industry-leading $1.6 billion initiative increased the overall capacity at the Genesee Generating Station by 512 megawatts (MW) and reduced greenhouse gas (GHG) emissions by 3.4 million tonnes (Mt) annually, representing a ~60% increase in capacity while reducing emissions by ~40%.
Serving key markets in the U.S.
In 2024, our three newly acquired natural gas-fired generation facilities – Frederickson 1 Generating Station, La Paloma and Harquahala – provided on-demand flexibility and reliability and helped maintain grid stability in the transition to a lower-carbon energy future. Each asset is well-positioned in high-demand areas of the U.S. WECC market and will support further economic development opportunities in the region.