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ME Global and Capital Power Announce 10-Year Renewable Energy Agreement, Canadian Business Journal

Edmonton, Alberta (GLOBE NEWSWIRE) — MEGlobal Canada ULC (MEGlobal), March 18, 2022, purchases Capital Power Corporation (TSX: CPX) and a significant portion of renewable energy (126 MW) from Capital 10 We have signed an annual contract.Powers Whitlaw Wind1 institution. Renewable energy is expected to meet the electricity demand of ME Global’s Canadian manufacturing facility from April 1, 2022.

MEGlobal is a subsidiary of the EQUATE Petrochemical Company KSCC (EQUATE) and is part of the EQUATE Group. MEGlobal has three operating offices in Fort Saskatchewan and Rakhum County, Alberta. These facilities produce ethylene glycol used in the production of essential products such as clothing, coolants and construction materials.

“Purchasing energy from renewable resources such as wind makes sense for us and the environment,” said Naser Aldousari, CEO of EQUATE. “This agreement demonstrates EQUATE’s dedication to achieving responsible product growth that meets current needs without compromising the ability to meet the needs of future generations.”

“We are pleased to provide ME Global with renewable energy for our operations in Alberta. We are working to drive a sustainable future for people and the planet, helping our partners leverage the benefits of clean energy. We are committed to developing customized solutions for our customers, “said Crisco Pecky, Senior Vice President and Chief Regal, Development and Commercial Officer. .. “In combination with other renewable energy contracts, the additional phase of the Whitla Wind facility, which has a total capacity of 151 MW, is now fully contracted for 10 years with 100% of the energy generated and about 86% of the environmental attributes. . “

Carbon emissions from the agreement are estimated to be 2.119 MTCO2e. It takes more than 461,000 cars off the road in a year and recycles more than 90 million bags of waste instead of dumping them in landfills, or a greenhouse isolated by 35 million tree saplings in 10 years. It corresponds to the amount of greenhouse gas.2

  1. Whitla Wind consists of three phases. Phase 1 (202 MW) is owned by Capital Power (Whitla) LP and Phases 2 and 3 (151 MW) are owned by Whitla 2 Wind Generation LP. The renewable energy contracts mentioned in this media release are Phases 2 and 3.
  2. The comparison numbers in this paragraph are calculated from the USEPA website.

About capital power
Capital Power is a growth-oriented North American wholesale electricity producer with a strategic focus on sustainable energy, headquartered in Edmonton, Alberta. We build, own and operate high quality utility scale power generation facilities, including renewable energy and heat. We also make a large investment in carbon recovery and utilization to reduce the impact of carbon and promise not to use coal in 2023. CapitalPower owns approximately 6,600 MW of power generation capacity at 26 facilities in North America. Advanced development projects include approximately 425 MW of renewable energy generation capacity owned in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity with Genesee 1 and 2 repowering in Alberta. It will be.

About ME Global
MEGlobal is a world leader in ethylene glycol (EG) manufacturing and marketing. MEGlobal has a global network and sells products in Asia, the Americas, Europe and the Middle East. MEGlobal adopts Responsible Care® principles and focuses on employee, neighbor, community and environmental safety in all aspects of its operation. MEGlobal is a subsidiary of EQUATE and is part of the EQUATE Group, one of the largest EG producers in the world. For more information, please visit www.meglobal.biz.

Please contact us for more information:
ME Global

Public relations window to the media
Trish Thompson
(832) 802-9767
thompspd@meglobal.biz

Capital power
Public relations window to the media: Investor Public Relations:
Catherine Peron Randy Mar
(780) 392-5335 (780) 392-5305 or (866) 896-4636 (toll free)
kperron@capitalpower.com Investor@capitalpower.com


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ME Global and Capital Power Announce 10-Year Renewable Energy Agreement, Canadian Business Journal

Source link ME Global and Capital Power Announce 10-Year Renewable Energy Agreement, Canadian Business Journal

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