On March 25, 2019, Kineticor acquired a 32 MWp cogeneration facility (currently under construction) from Tidewater Midstream and Infrastructure for $85 million. Tidewater's Pipestone Gas Plant will rely on Kineticor's cogeneration facility to be the sole power provider for the gas plant. In conjunction with the acquisition, Kineticor and Tidewater have entered into a long-term energy services agreement whereby Kineticor will supply power and heat to Tidewater's Pipestone Gas Plant once construction is complete.
Kineticor, based in Calgary, is an independent power producer, that builds, owns, and operates power generation equipment.
Tidewater, also based in Calgary, engages in the gathering, processing, and transportation of natural gas liquids.
Osler, Hoskin & Harcourt LLP represented Kineticor with a team led by Lorne Carson that included Allan Morgan and Courtney Bohn (Corporate).