DIF Capital Partners has invested in the 900-megawatt Cascade Power Project in Canada, via its DIF Infrastructure VI fund, the firm announced Aug. 28. Cascade is expected to result in one of the largest emissions reduction opportunities in the country’s electricity sector.
Located near Edson, Alberta, Cascade is a combined cycle natural gas–fired generating facility strategically situated in proximity to significant gas production as well as the NGTL System and high voltage electrical transmission lines.
DIF will invest in the construction of the C$1.5 billion ($1.1 billion) Cascade project alongside joint equity sponsors OPTrust and Axium Infrastructure. BPC, a joint venture between affiliates of PCL Construction and Overland Contracting Canada, will construct the facility under an engineering, procurement and construction services contract, with Kineticor acting as construction and asset manager.
Construction will start immediately, with commercial operati
