Cory

Cogeneration Project

In May 2000, ATCO Power Ltd. and SaskPower International Inc. announced a partnership to build a world-leading 260-megawatt natural gas-fired, cogeneration power plant at the Potash Corporation of Saskatchewan Inc.'s (PCS) Cory Mine outside Saskatoon.

The cogeneration plant co-owned by ATCO and SaskPower International, features leading-edge technology. The plant will operate mostly in highly efficient cogeneration mode, a process that allows it to generate steam and electrical power from the same energy source. The plant is also capable of operating in straight combined-cycle mode, a process that combines a natural-gas turbine and a steam turbine to generate only electricity.

All electricity produced is sold to SaskPower Corporation under a long-term power purchase agreement.

The plant consists of two natural gas-fuelled combustion turbines and generators. The exhaust gases from each gas turbine is sent through a waste heat recovery boiler to produce steam. This steam is used to power a steam turbine as well as provide all of PCS Cory’s steam requirements.

The plant is located on PCS’s Cory site 6.4 kilometres west of the city of Saskatoon and is connected to the Saskatchewan transmission grid.

The Cory cogeneration plant's 'state-of-the-art' design enables it to generate electricity with minimal effect on the environment. Both of the gas turbines and heat recovery steam generators are equipped with low NOx combustors to minimize impacts. The Cory cogeneration station turns between 55% and 70% of the natural gas’s potential energy into electricity and steam - compared to an average of 35% achieved by conventional power stations - while emissions of "greenhouse" gases are only about one-third of a similarly sized coal-fired power station. As well, further reduction in "greenhouse" gases will be realized as PCS will no longer be using direct-fired boilers to produce steam.

ATCO Power Ltd and SaskPower International Inc. completed $182 million bond financing for the Cory cogeneration project. RB Dominion Securities and BMO Nesbitt Burns underwrote bonds which have been rated A(low) by Dominion Bond rating service. Project bonds were placed with institutional investors in Canada and the United States. The financing has a 24-year term.

Further Documents

Press Release
Wednesday, May 23, 2001
Monday, May 7, 2001
Thursday, May 25, 2000

Environmental Awareness

Station Configuration