Pembina Pipeline provides update on proposed Greenlight Electricity Centre

Pembina Pipeline (PBA) along with its partner Kineticor provided updates on the development of the proposed Greenlight Electricity Centre. The project is a multi-phased gas-fired combined cycle power generation facility, to be located in Sturgeon County, Alberta, with a capacity of up to approximately 1,800 megawatts designed to advance Alberta’s innovation economy. Greenlight advanced through Phase 1 of the Alberta Electric System Operator large load allocation process and through subsequent commercial efforts secured a 907 MW allocation. This allocation has been assigned to a potential customer and would allow an innovation infrastructure development to begin operating prior to the project entering service. The customer has entered into a demand transmission service agreement with the AESO for 907 MW. This would ensure a connection to the Alberta electrical transmission system and access to power as early as 2027. Greenlight and the customer have entered into a conditional purchase and sale agreement for land, which includes a power connection, owned by Greenlight and Pembina. The approximately $190M land sale is expected to close in the fourth quarter of 2025, subject to certain conditions. Pembina, through Greenlight, will continue to invest a portion of the proceeds into the Project for ongoing development, with the remaining funds accruing to Pembina to be used to reduce debt outstanding. Greenlight has entered into a reservation agreement for two turbines with a power OEM that provides certainty on equipment availability and delivery timing for the first phase of the project. This supports the current schedule with start-up of the Project as early as 2030. Efforts continue towards a final investment decision in the first half of 2026. The FID will be contingent upon, amongst other things, signing an energy supply agreement with the customer and entering into engineering, procurement and construction agreement, with both workstreams having been progressed.