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    CPX   CA14042M1023


Delayed Toronto Stock Exchange  -  05/26 11:17:32 am EDT
45.46 CAD   +0.22%
05/24Capital Power announces Board appointment
05/24Capital Power announces Board appointment
05/24Capital Power Corporation Announces Appointment of Gary Bosgoed to Its Board of Directors, Effective June 1, 2022
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Canada's Capital Power and Enbridge to partner on carbon capture project

11/29/2021 | 09:15am EDT
FILE PHOTO: The Enbridge Tower on Jasper Avenue in Edmonton

(Reuters) - Capital Power Corp and Enbridge Inc agreed to partner on a carbon capture and storage (CCS) project, the companies said on Monday, that would aim to capture up to three million tonnes of carbon dioxide emissions annually.

The proposed project would serve Capital Power's Genesee Generating Station near Warburg, Alberta, which currently provides over 1,200 megawatts of baseload electricity generation to Albertans.

Alberta, home to Canada's oil sands, is aiming to become a hub for carbon storage and hydrogen production as the world moves away from fossil fuel consumption and tries to cut climate-warming carbon emissions.

Enbridge would be the transportation and storage service provider, while Capital Power would be the carbon dioxide provider on the project, which could be in service as early as 2026.

The captured carbon dioxide emissions from the re-powered units would be transported and stored through Enbridge's open access carbon hub that could also serve several other local industrial companies.

Enbridge is applying to develop an open access carbon hub in the Wabamun area through the government of Alberta's request for full project proposals process, which is expected to start as early as December 2021.

Companies including TC Energy, Suncor Energy, Royal Dutch Shell also plan to build new CCS storage facilities.

(Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CAPITAL POWER CORPORATION 0.22% 45.46 Delayed Quote.14.95%
ENBRIDGE INC. 1.21% 58.52 Delayed Quote.17.00%
LONDON BRENT OIL 2.60% 117.25 Delayed Quote.45.92%
POWER CORPORATION OF CANADA 1.16% 36.16 Delayed Quote.-14.47%
SHELL PLC 0.93% 28.2 Real-time Quote.44.69%
SUNCOR ENERGY INC. 0.89% 50.92 Delayed Quote.59.46%
TC ENERGY CORPORATION 0.30% 73.05 Delayed Quote.23.76%
WTI 3.24% 114.338 Delayed Quote.46.73%
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Sales 2022 1 968 M 1 534 M 1 534 M
Net income 2022 329 M 256 M 256 M
Net Debt 2022 3 294 M 2 567 M 2 567 M
P/E ratio 2022 17,3x
Yield 2022 4,92%
Capitalization 5 277 M 4 112 M 4 112 M
EV / Sales 2022 4,35x
EV / Sales 2023 4,41x
Nbr of Employees 773
Free-Float 89,1%
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Technical analysis trends CAPITAL POWER CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 45,36 CAD
Average target price 46,77 CAD
Spread / Average Target 3,11%
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Managers and Directors
Brian Tellef Vaasjo President, Chief Executive Officer & Director
Sandra A. Haskins Chief Financial Officer & Senior VP-Finance
Jill V. Gardiner Chairman
Jacquie Pylypiuk Senior Vice President-People, Culture & Technology
Doyle N. Beneby Independent Director
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