TC Energy has sold its interests in three natural gas–fired power plants in Ontario to a subsidiary of Ontario Power Generation for $2.8 billion.
The facilities include the 683-megawatt Halton Hills power plant, the 900-megawatt Napanee generating station and TC Energy’s 50 percent interest in the 550-megawatt Portlands Energy Centre.
“Completing this transaction further strengthens our financial position, helps fund our industry-leading secured capital program and maximizes value for our shareholders,” said Russ Girling, TC Energy president and CEO. “When combined with the sales of Coolidge, an interest in Northern Courier and certain U.S. midstream assets in 2019, TC Energy has realized approximately $6.2 billion from portfolio management activities over the last year.”
TC Energy’s portfolio of long-life energy infrastructure assets now includes investments in six low-emission natural gas–fired power plants and the Bruce Power nuclear facility,
