Power firm Capital Energy Corp. says it’s holding out for a possibility to energy a large-scale information centre at its Genesee Producing Station, however Alberta’s grid operator shouldn’t be at the moment making sufficient electrical connection capability obtainable for the scale of challenge it’s chasing.
The facility plant southwest of Edmonton now runs fully on pure gasoline as an alternative of coal after a $1.6-billion multi-year revamp, permitting it to spice up its capability by round 60 per cent whereas chopping greenhouse gasoline emissions by 40 per cent.
Capital Energy chief government Avik Dey has stated it might be the right website to completely energy an information centre. These are enormous amenities housing the computing firepower wanted for synthetic intelligence and different functions. It will possibly take an infinite quantity of energy to run and funky them.
The Alberta authorities has set a objective of attracting $100 billion in information centre investments over 5 years.
Story continues beneath commercial
The Alberta Electrical System Operator stated final month it has obtained requests from 29 proposed information centre initiatives representing greater than 16,000 megawatts — greater than 11 instances the Metropolis of Edmonton’s load.
1:43
Surging development continues in Albertas tech sector
To accommodate that surge in demand, the AESO has positioned a short lived restrict on the initiatives wanting to hook up with the grid — 1,200 megawatts between now and 2028 — with the intention to guarantee system reliability.
Get weekly cash information
Get skilled insights, Q&A on markets, housing, inflation, and private finance data delivered to you each Saturday.
Capital Energy was amongst these elevating considerations in regards to the interim restrict.
Dey informed analysts on a convention name Wednesday that it desires to pursue a 1,000-megawatt challenge, however doesn’t see one thing that massive shifting ahead with a possible accomplice below the grid operator’s present Part 1 limits. It’s taking a move on pursuing one thing smaller at Genesee within the meantime.
“Our bodily website at Genesee is extremely advantaged for a big hyper information centre,” he stated, pointing to its entry to fibre, transmission and distribution infrastructure.
Story continues beneath commercial
Dey stated Capital Energy will take a look at whether or not it may well transfer a challenge forward below future phases of the AESO’s allocation plan, and proceed to advocate for the present restrict to be raised.
“I believe all of us need the identical factor right here … Now we have a special view on how that needs to be allotted, however I believe everybody’s attempting to work to the identical endgame right here,” he stated.
“And I’ll concede the AESO and the utilities ministry and the federal government are balancing a number of wants and concerns.”
2:04
The transformation of Genesee: How Capital Energy plans to maintain the decades-old energy plant working
Capital Energy shares dropped nearly six per cent in afternoon buying and selling on the TSX to $58.55.
Earlier Wednesday, the facility producer stated it swung to a loss within the second quarter in contrast with a revenue final yr.
Story continues beneath commercial
It stated its internet loss attributable to shareholders was $132 million in the course of the quarter ended June 30, or 92 cents per diluted share.
That in contrast with a revenue of $75 million, or 51 cents per share in the identical quarter final yr.
The loss got here as income additionally dropped to $441 million, down from $774 million final yr.
Within the quarter, the corporate accomplished its $3 billion acquisition of two energy amenities within the U.S. that it says add to its versatile energy technology.
The corporate additionally revised its steering for the yr, elevating its anticipated capital expenditures, adjusted earnings earlier than sure deductions and adjusted funds from operations.
1:56
$2.4B Capital Energy carbon seize challenge cancelled
© 2025 The Canadian Press
