InvestmentJul 2, 2026, 01:13 PM
Pembina Pipeline Greenlight Centre FID; $2.1B Net Investment
AI Summary
Pembina Pipeline Corporation, along with partners Morgan Stanley Infrastructure Partners and Kineticor Asset Management, announced a positive final investment decision for the Greenlight Electricity Centre (GLEC). This 932 MW gas-fired power generation facility, located in Alberta, will serve a major data center development, with an anticipated in-service date in the second half of 2030. Pembina's net investment in the project is approximately $2.1 billion, and it is expected to generate annual run-rate adjusted EBITDA of about $310 million net to Pembina.
Key Highlights
- Pembina Pipeline announced a positive Final Investment Decision (FID) for the Greenlight Electricity Centre (GLEC).
- GLEC is a 932 MW gas-fired power generation facility, with potential to expand to 1,864 MW.
- Pembina's net investment in GLEC is approximately $2.1 billion after a land sale.
- The project is expected to generate annual run-rate adjusted EBITDA of approximately $310 million net to Pembina.
- The anticipated in-service date for the Project is the second half of 2030.
- Pembina holds a 47.5% ownership stake in Greenlight, alongside Morgan Stanley Infrastructure Partners (47.5%) and Kineticor (5%).
- Approximately 85% of the project's $4 billion gross capital cost is secured under fixed-price agreements.
Price Impact
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