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Project(s): View 9 related projects in PECWeb
Plant(s): View 8 related plants in PECWeb
Released May 03, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)-- Capital Power Corporation (Edmonton, Alberta) and WEC Energy Group (NYSE:WEC) (Milwaukee, Wisconsin), two power producers focused largely on the northcentral U.S. and western-central Canada, reported profit growth for first-quarter 2022 as they picked up support for some of their projects using in-demand technology, such as carbon capture and storage (CCS) and liquefied natural gas (LNG). Industrial Info is tracking more than US$2.9 billion worth of active projects from Capital, and nearly US$1.4 billion from WEC, with a total of nearly US$1 billion under construction.
Click on the image at right for a graph detailing Capital's active projects, by fuel type.
One of Capital's most closely watched projects is its proposed CCS project at the Genesee Generating Station in Warburg, Alberta, which completed a preliminary front-end engineering and design (FEED) study during the first quarter that "updated various technical and cost parameters," according to a statement from Brian Vaasjo, the chief executive officer of Capital, in a quarterly earnings-related press release.
Capital began construction in December on the repowering of units 1 and 2 at the Genesee facility, which involves installing new gas-fired combustion turbines and heat-recovery steam generators at the plant, which traditionally generates energy from coal. The new units will add 538 megawatts (MW) of capacity to the 1,315-MW facility, with Unit 1 expected to wrap up by 2023 and Unit 2 toward the summer of 2024. Next year, Capital expects to begin construction on a 210-MW battery energy storage system (BESS) at Genesee. Subscribers can read detailed reports on the repowering and BESS projects.
"Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) received approval from the Government of Alberta to pursue development of their Open Access Wabamun Carbon Hub, which would provide transportation and sequestration services for the Genesee CCS Project," Vaasjo said in the quarterly press release. "With the recent 2022 Budget announcement by the Federal Government, we are encouraged by the level of refundable investment tax credits for [CCS] projects."
Capital's renewable projects in Canada include the US$100 million Enchant Solar Plant in Taber, Alberta, which is designed to generate 74.9 MW from nearly 240,000 photovoltaic (PV) panels. Formerly called the Prairie Sunlight Phase I project, project was signed to a 15-year renewable energy agreement in April 2021 to provide Labatt Breweries (Toronto, Ontario) with 51% of its output. Subscribers can learn more from Industrial Info's project report.
In the U.S., Capital expects to begin construction later this year on both renewable and fossil-fuel projects across the Southern states. The US$81 million Hornet Solar Farm in Stanley, North Carolina, which is designed to generate 75 MW from more than 243,000 monocrystalline PV solar panels, is expected to kick off in the third quarter, while a US$13 million rewind of the natural gas-fired Unit 3 at a cogeneration facility in Decatur, Alabama, which generates 180 MW, is expected to start in the fourth quarter. Subscribers can read detailed project reports on the Hornet Solar Farm and Decatur rewind.
Capital's net income was reported to the US$119 million in the first quarter, a 17.8% increase from first-quarter 2021, while its revenues stood at US$501 million, a 9.6% decrease from the same period last year.
WEC Develops LNG Peak Shaving, RICE Units
WEC began construction in January on two LNG peak shaving facilities in Wisconsin: a US$185 million plant near Bluff Creek, which will serve the state's southernmost areas, and a US$185 million plant near Ixonia, which will serve the greater Milwaukee area. The facilities will store LNG for quick distribution when it's needed most--typically, during the coldest days of winter. Companies involved say natural gas will be drawn from an existing pipeline system during the summer, when demand typically is low, cooled into liquid form, and then stored until it is needed. At that time, it will be warmed back into its vapor form and distributed to customers. Subscribers can learn more from Industrial Info's reports on the Bluff Creek and Ixonia projects.
Click on the image at right for a graph detailing WEC's active projects, by fuel type.
We Energies, a subsidiary of WEC, contracted Burns & McDonnell (Kansas City, Missouri) in March to provide engineering, procurement and construction (EPC) services for the two LNG peaking facilities. CB&I, a division of McDermott International Incorporated (Houston, Texas), will provide the design and construction of the LNG tank at each site. According to Burns & McDonnell, the LNG peak-shaving facilities allow WEC to provide reliable service at a significantly lower cost than an expansion of its gas pipeline system.
WEC also got a boost last month from Wisconsin's Public Service Commission, which approved WEC's US$200 million addition of reciprocating internal combustion engines (RICE) at its Weston Power Station in Rothschild, Wisconsin. The units will generate 128 MW from hydrogen (25%) and natural gas (75%). Subscribers can read more details in Industrial Info's project report.
WEC has vowed to reduce is carbon emissions 80% by 2030 and to be entirely carbon-neutral by 2050. It began work in March on a US$99 million repowering of the Crane Creek Windfarm in Riceville, Iowa, which will repower 66 turbines with a total of 99 MW of output. The company expect to finish the project toward the end of the year. Subscribers can learn more from Industrial Info's project report.
WEC reported net income of US$565.9 million for first-quarter 2022, a 10.9% increase from first-quarter 2021, while its revenues stood at US$2.91 billion an 8% increase from the same period last year.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
Click on the image at right for a graph detailing Capital's active projects, by fuel type.One of Capital's most closely watched projects is its proposed CCS project at the Genesee Generating Station in Warburg, Alberta, which completed a preliminary front-end engineering and design (FEED) study during the first quarter that "updated various technical and cost parameters," according to a statement from Brian Vaasjo, the chief executive officer of Capital, in a quarterly earnings-related press release.
Capital began construction in December on the repowering of units 1 and 2 at the Genesee facility, which involves installing new gas-fired combustion turbines and heat-recovery steam generators at the plant, which traditionally generates energy from coal. The new units will add 538 megawatts (MW) of capacity to the 1,315-MW facility, with Unit 1 expected to wrap up by 2023 and Unit 2 toward the summer of 2024. Next year, Capital expects to begin construction on a 210-MW battery energy storage system (BESS) at Genesee. Subscribers can read detailed reports on the repowering and BESS projects.
"Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) received approval from the Government of Alberta to pursue development of their Open Access Wabamun Carbon Hub, which would provide transportation and sequestration services for the Genesee CCS Project," Vaasjo said in the quarterly press release. "With the recent 2022 Budget announcement by the Federal Government, we are encouraged by the level of refundable investment tax credits for [CCS] projects."
Capital's renewable projects in Canada include the US$100 million Enchant Solar Plant in Taber, Alberta, which is designed to generate 74.9 MW from nearly 240,000 photovoltaic (PV) panels. Formerly called the Prairie Sunlight Phase I project, project was signed to a 15-year renewable energy agreement in April 2021 to provide Labatt Breweries (Toronto, Ontario) with 51% of its output. Subscribers can learn more from Industrial Info's project report.
In the U.S., Capital expects to begin construction later this year on both renewable and fossil-fuel projects across the Southern states. The US$81 million Hornet Solar Farm in Stanley, North Carolina, which is designed to generate 75 MW from more than 243,000 monocrystalline PV solar panels, is expected to kick off in the third quarter, while a US$13 million rewind of the natural gas-fired Unit 3 at a cogeneration facility in Decatur, Alabama, which generates 180 MW, is expected to start in the fourth quarter. Subscribers can read detailed project reports on the Hornet Solar Farm and Decatur rewind.
Capital's net income was reported to the US$119 million in the first quarter, a 17.8% increase from first-quarter 2021, while its revenues stood at US$501 million, a 9.6% decrease from the same period last year.
WEC Develops LNG Peak Shaving, RICE Units
WEC began construction in January on two LNG peak shaving facilities in Wisconsin: a US$185 million plant near Bluff Creek, which will serve the state's southernmost areas, and a US$185 million plant near Ixonia, which will serve the greater Milwaukee area. The facilities will store LNG for quick distribution when it's needed most--typically, during the coldest days of winter. Companies involved say natural gas will be drawn from an existing pipeline system during the summer, when demand typically is low, cooled into liquid form, and then stored until it is needed. At that time, it will be warmed back into its vapor form and distributed to customers. Subscribers can learn more from Industrial Info's reports on the Bluff Creek and Ixonia projects.
Click on the image at right for a graph detailing WEC's active projects, by fuel type.We Energies, a subsidiary of WEC, contracted Burns & McDonnell (Kansas City, Missouri) in March to provide engineering, procurement and construction (EPC) services for the two LNG peaking facilities. CB&I, a division of McDermott International Incorporated (Houston, Texas), will provide the design and construction of the LNG tank at each site. According to Burns & McDonnell, the LNG peak-shaving facilities allow WEC to provide reliable service at a significantly lower cost than an expansion of its gas pipeline system.
WEC also got a boost last month from Wisconsin's Public Service Commission, which approved WEC's US$200 million addition of reciprocating internal combustion engines (RICE) at its Weston Power Station in Rothschild, Wisconsin. The units will generate 128 MW from hydrogen (25%) and natural gas (75%). Subscribers can read more details in Industrial Info's project report.
WEC has vowed to reduce is carbon emissions 80% by 2030 and to be entirely carbon-neutral by 2050. It began work in March on a US$99 million repowering of the Crane Creek Windfarm in Riceville, Iowa, which will repower 66 turbines with a total of 99 MW of output. The company expect to finish the project toward the end of the year. Subscribers can learn more from Industrial Info's project report.
WEC reported net income of US$565.9 million for first-quarter 2022, a 10.9% increase from first-quarter 2021, while its revenues stood at US$2.91 billion an 8% increase from the same period last year.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
