Capital Power Corporation has partnered with Mitsubishi Heavy Industries Group and Kiewit Energy Group on a front-end engineering and design study for the Genesee CCS Project, advancing the commercial application of carbon capture and sequestration technology at its Genesee Generating Station in Alberta. The FEED study is being conducted in parallel with the engineering work to advance the Open Access Wabamun Carbon Hub, led by Enbridge Inc, and is expected to be completed by June 2023. Black and Veatch will provide owner's engineering oversight on behalf of Capital Power for the FEED study. Capital Power is expected to make a final investment decision
on the Project by mid-2023 subject to certain conditions including successful completion of the FEED study and regulatory certainty on investment tax credits, carbon pricing and additional funding mechanisms to support the Project. The Project is anticipated to start capturing carbon as early as 2027.