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    CPX   CA14042M1023

CAPITAL POWER CORPORATION

(CPX)
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Capital Power, Enbridge Collaborate on Carbon Capture, Storage Project in Alberta

11/29/2021 | 08:32am EST

By Adriano Marchese

Capital Power Corp. and Enbridge Inc. have announced a collaboration to evaluate and advance a carbon capture and storage project in the province of Alberta which could come online as early as 2026.

In a joint statement on Monday, the two companies said Enbridge, with support of Capital Power, is applying to develop an open access carbon hub in the Wabamun area near the city of Edmonton through the provincial government's request for project proposals process, which is expected to start as early as December 2021.

The proposed project would serve Capital Power's Genesee 1,200-megawatt generating station and is expected to capture up to 3 million metric tons of carbon dioxide a year from the repowered units which Enbridge would then transport and store.

"Collaboration like this is critical as we look to advance cost-effective, customer-focused carbon capture, transportation and storage solutions in Alberta and across North America, with a commitment to protecting land, water and the environment and engaging meaningfully with local Indigenous communities," said Colin Gruending, Enbridge's Executive Vice President and President of Liquids Pipelines.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

11-29-21 0832ET

Stocks mentioned in the article
ChangeLast1st jan.
CAPITAL POWER CORPORATION -1.51% 37.85 Delayed Quote.-4.08%
ENBRIDGE INC. -1.78% 51.35 Delayed Quote.3.93%
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Analyst Recommendations on CAPITAL POWER CORPORATION
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Financials
Sales 2021 1 835 M 1 457 M 1 457 M
Net income 2021 183 M 145 M 145 M
Net Debt 2021 2 916 M 2 315 M 2 315 M
P/E ratio 2021 24,0x
Yield 2021 5,58%
Capitalization 4 398 M 3 510 M 3 492 M
EV / Sales 2021 3,99x
EV / Sales 2022 3,67x
Nbr of Employees 810
Free-Float 89,1%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 37,85 CAD
Average target price 45,46 CAD
Spread / Average Target 20,1%
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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
Darcy John Trufyn Senior VP-Operations, Engineering & Construction