Joffre
Cogeneration Plant
ATCO Power, NOVA Chemicals Corporation and EPCOR Power Development Corp. built a 480-megawatt natural gas-fired cogeneration plant to meet the substantial steam and electric energy needs of NOVA's world-class petrochemical facility at Joffre in central Alberta near Red Deer. The plant also sells electric energy directly to customers and into the Power Pool of Alberta.
The cogeneration plant was part of a $1.8-billion expansion at NOVA Chemicals' Joffre site that included additional ethylene, polyethylene and linear alpha olefin production capacity.
The cogeneration plant was jointly constructed and is currently owned by ATCO,
NOVA Chemicals and EPCOR. ATCO Power leads the operation of the facility
and along with EPCOR markets surplus power from the facility.
ATCO, EPCOR and NOVA completed financing of $269 million which has a 21-year term.
Joffre is the first merchant power plant to be funded in Canada on a non-recourse basis. The loan was arranged by the Royal Bank of Canada, West LB of Germany and John Hancock
Mutual Life Insurance Company of the United States.
Further Documents
Press Release
Wednesday, June 21, 2000
Thursday, December 16, 1999
Wednesday, July 21, 1999
|
|
Capacity
|
- 480 megawatts
- 530 tonnes/hr of steam
|
Equipment
|
- Two Westinghouse 501F gas turbines
- Two Nooter/Erikson heat recovery system generators
- One Toshiba steam turbine
|
Highlights
|
- Long-term power and steam agreements with NOVA Chemicals
- Merchant plant sales to the Power Pool of Alberta and direct sales
to customers
|
Commissioning Date
|
|
|
Ownership
|
- ATCO – 40% *
- EPCOR Power Development Corp – 40%
- NOVA Chemicals Ltd – 20%
|
| PDF Version for
printing |
|
*ATCO Ownership in this plant is held 80% by ATCO Power Ltd. and 20% by ATCO
Resources Ltd. |
