ATCO, EPCOR and NOVA celebrate the opening of Canada's largest cogeneration plant

June 21, 2000

Edmonton/Joffre/Calgary, Alberta - Canada's largest cogeneration power plant was officially opened today by its joint venture partners ATCO Power, EPCOR and NOVA Chemicals Corporation in Joffre, Alberta. The $380-million facility located at NOVA Chemicals' Joffre Site will boost the amount of electricity generated in Alberta by more than four per cent.

The Joffre Cogeneration Plant is almost triple the size of any other cogeneration facility built in the province since deregulation was announced. It uses high efficiency natural gas fired technologies which significantly reduce greenhouse gas emissions by more than 50 per cent compared to existing standards within the Alberta system.

The opening marks two and a half years of successful teamwork between three leading Alberta-based companies to bring Canada's largest cogeneration plant to actuality. The Opening also marks a significant step forward in the on-going deregulation of the Alberta provincial electric system.

The 416-megawatt plant will generate all the electrical and steam/heat required to operate the expanded NOVA Chemicals' petrochemical facility at Joffre, with surplus power available for sale to the provincial power grid. With its innovative design, the new cogeneration plant is one of the most cost-efficient, technologically-advanced and environmentally progressive facilities in the world. It consists of two Siemens-Westinghouse 501F combustion turbine generators, each with a heat recovery boiler supplying steam to a single steam turbine generator. The natural gas-powered turbines produce electrical energy and the waste heat from the gas turbines is also converted into electrical energy and process steam.

"We are very pleased to be part of this group of three Alberta companies making a substantial contribution to our provincial electricity supply," says Gary Bauer, President of ATCO Power. "The technology used at this facility is the most energy-efficient and cost effective technology available."

"Part of the strength of this project has been the integrated team of seasoned individuals from each of the owner companies who managed the cogeneration project from concept through to completion," said Don Lowry, President and CEO of EPCOR.

The cogeneration plant is a significant part of the Joffre petrochemical expansion, which also includes the construction of an additional ethylene and polyethylene plant. "This cogeneration project is a key component of the self-sufficient, integrated Joffre petrochemical complex we are building," says Harry Van Zeist, Vice President, NOVA Chemicals.

NOVA Chemicals developed and managed the project with a dedicated team of individuals from the three partner companies. Black and Veatch Canada Inc. was the project’s principal contractor and the plant was built with the support of the Alberta Building Trades.

ATCO Power and EPCOR are each 40 per cent owners of the new plant, and NOVA Chemicals owns the remaining twenty per cent. ATCO Power will operate the facility, and both ATCO and EPCOR will market the surplus power.

The ATCO Group of Companies is engaged in electric power generation, transmission and distribution; natural gas gathering, processing, transmission, storage and distribution; workforce housing; industrial noise abatement and technical services and facilities management. More information about ATCO can be found on our website, www.atco.com.

EPCOR is an Alberta-based company that supplies essential elements for living — water, power, natural gas and technology services — to customers in Alberta, Ontario and British Columbia. More information about EPCOR can be found on our website, www.epcor-group.com.

NOVA Chemicals is a focused commodity chemicals company producing ethylene/polyethylene and styrenics at 18 locations in Canada, the United States, France, the Netherlands and the United Kingdom. Visit NOVA Chemicals on the Internet at www.novachem.com.

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