On August 27, 2020, Kineticor Resource Corp., together with joint development sponsors Macquarie Capital and OPTrust and project sponsors OPTrust, Axium Infrastructure and DIF Capital Partners, successfully closed financing on the $1.5 billion Cascade Power Project.
Cascade is a 900 megawatt combined cycle natural gas fired generating facility located near Edson, Alberta. Cascade will lead the transition to a lower carbon intensive power grid in Alberta by transitioning off coal fired power and creating low emissions electricity that is expected to supply over 8% of Alberta’s average demand. Cascade is anticipated to result in one of the largest emission reductions in Canada’s electricity sector.
Osler, Hoskin & Harcourt LLP advised Kineticor Resource Corp., an Alberta based developer and manager of clean power projects across Canada specializing in projects with an environmental and economic advantage, with a team led by Lorne Carson and consisting of Allan Morgan (Corporate), Elliot Smith (Commercial), Martin Ignasiak (Regulatory, Environmental, Aboriginal & Land), and Dana Saric (Financial Services).