CALGARY | January 3, 2019
WCSB Power (“WCSB”) assumed 100% equity interest in the 7 MW Crowsnest Pass Power Plant located in Sparwood, British Columbia from the TD Greystone Infrastructure Fund. Previously this asset was acquired from a private equity fund managed by Toronto-based Kensington Capital Advisors Inc. in February of 2018.
Operational since 2012, Crowsnest Pass Power Plant is a waste heat recovery project that converts waste heat, produced by a natural gas compressor station, into electricity. The electricity produced is sold to BC Hydro under a 20-year Electricity Purchase Agreement. This latest investment adds geographic diversification to WCSB’s operation and complements our existing investments in Alberta and Saskatchewan.
The transaction achieved all customary closing conditions, including regulatory approvals, on January 3, 2019.
WCSB Power is a privately held, technology-focused power generation company, engaged in the acquisition and operation of electrical generating assets in Western Canada. Our electrical generation assets utilize produced gas, sales gas and waste heat produced by large midstream, exploration and production companies.