Pembina Pipeline Corp. introduced it’s investing in a proposed Edmonton-area pure gasoline energy plant that would provide a large information centre complicated, because it reported a dip in quarterly earnings and a lift in pipeline volumes.
It mentioned Thursday it has entered into agreements for a 50 per cent stake within the Greenlight Electrical energy Restricted Partnership, which goals to construct an as much as 1,800-megawatt energy technology facility in Alberta’s Industrial Heartland. Its associate could be Kineticor Holdings LP, a subsidiary of pension supervisor OPTrust.
The Greenlight Electrical energy Centre might embody carbon capture, and it has sufficient land to accommodate an information centre complicated with the identical vitality use because the plant’s output.
“We’re excited to be partnering with Kineticor and for the chance to additional lengthen our worth chain to supply energy to a promising new Alberta-based information centre trade,” mentioned Stu Taylor, Pembina’s senior vp and company improvement officer.
Kineticor mentioned the centre could be on land already zoned for industrial use.
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“Alberta’s Industrial Heartland is among the finest areas within the province to facilitate a mission of this magnitude given the big land base, strong grid infrastructure, and potential for decarbonization options over time,” mentioned Kineticor CEO Andrew Plaunt.
“By partnering with Pembina, we are able to leverage and mix our particular person strengths and expertise in main infrastructure initiatives to carry all of the items collectively to develop a world-class facility.”
Alberta’s know-how minister has mentioned the province hopes to see $100 billion value of synthetic intelligence information centres underneath development within the subsequent 5 years. The large operations require an immense quantity of electrical energy to run and funky off laptop servers.
Additionally Thursday, Pembina mentioned it earned $572 million in its fourth quarter, down from $698 million a 12 months earlier.
The Calgary-based firm says revenues for the quarter ended Dec. 31 have been $2.15 billion, up from $1.84 billion throughout the identical quarter in 2023. Earnings per diluted widespread share have been 92 cents, down from $1.21 a 12 months earlier.
Pembina’s earnings and revenues for the complete monetary 12 months rose from 2023. Pipeline volumes rose through the quarter and the complete monetary 12 months.
© 2025 The Canadian Press
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