• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

TC Energy completes the sale of Ontario natural gas-fired power plants for proceeds of $2.8 billion

April 29, 20201:30 PM Globe Newswire

CALGARY, Alberta- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced that it has completed the sale of its interests in three Ontario natural gas-fired power plants to a subsidiary of Ontario Power Generation Inc. for net proceeds of approximately $2.8 billion prior to post-closing adjustments. The facilities include the 683-megawatt Halton Hills power plant, the 900-megawatt Napanee generating station and TC Energy’s 50 per cent interest in the 550-megawatt Portlands Energy Centre.

“Completing this transaction further strengthens our financial position, helps fund our industry-leading secured capital program and maximizes value for our shareholders,” said Russ Girling, TC Energy President and Chief Executive Officer. “When combined with the sales of Coolidge, an interest in Northern Courier and certain U.S. Midstream assets in 2019, TC Energy has realized approximately $6.2 billion from portfolio management activities over the last year.”

TC Energy’s portfolio of high-quality, long-life energy infrastructure assets now includes investments in six low-emission natural gas-fired power plants and the Bruce Power nuclear facility, resulting in a combined generating capacity of approximately 4,200 megawatts. Bruce Power, which provides Ontario with over 30 per cent of its electricity, is undertaking a life-extension program that will see TC Energy invest approximately $2.4 billion by 2023 with the potential for another $5.8 billion thereafter under a long-term agreement with the Ontario Independent Electricity System Operator.

About TC Energy
We are a vital part of everyday life – delivering the energy millions of people rely on to power their lives in a sustainable way.  Thanks to a safe, reliable network of natural gas and crude oil pipelines, along with power generation and storage facilities, wherever life happens – we’re there.  Guided by our core values of safety, responsibility, collaboration and integrity, our more than 7,300 people make a positive difference in the communities where we operate across Canada, the U.S. and Mexico.

TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

Advisories & Contact
FORWARD-LOOKING INFORMATION

This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management’s assessment of TC Energy’s and its subsidiaries’ future plans and financial outlook. All forward-looking statements reflect TC Energy’s beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Fourth Quarter 2019 Financial Highlights release and the 2019 Annual Report filed under TC Energy’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.

Media Inquiries:
Jennifer Link
403.920.7859 or 800.608.7859

Investor & Analyst Inquiries:
David Moneta / Hunter Mau
403.920.7911 or 800.361.6522

TC Energy

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • New oil and gas jobs from BOE Report Jobs
  • Highwood Asset Management Ltd. announces 2023 first quarter results
  • US natgas futures drop 4% on record U.S. output, lower demand forecast
  • CCMA Winner, Dean Brody performs July 11th for the Bootleggin’ Breakfast Stampede After-Party
  • Climate battle looms as Alberta premier Smith takes aim at Trudeau after election win

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.