Kineticor

Based in Calgary, Alberta, Kineticor is an independent power producer established in 2013 that develops, manages, and operates power generation facilities across Canada. The company was founded by CEO Andrew Plaunt, who previously established and led Kineticor Renewables, a wind energy development firm, and President Michael Funk, who brings a background in finance and accounting. Kineticor's business model centers on creating and managing large-scale power projects, often in partnership with other entities, to supply electricity to the Canadian grid. They seek out opportunities to partner with corporations that require power expertise and capital for project development.

Kineticor focuses on developing power solutions designed to support Canada's energy transition, particularly the shift away from coal-fired generation. A landmark achievement for the company is the development of the Cascade Power Project, a 900-megawatt combined-cycle natural gas-fired facility near Edson, Alberta. This $1.5 billion project, which commenced operations in 2024, is one of the largest and most efficient of its kind in the province and is expected to supply over 8% of Alberta's average electricity demand. The facility employs advanced technology that allows it to produce up to 50% more electricity from the same fuel compared to a traditional simple-cycle plant, resulting in significantly lower carbon intensity than the coal-fired plants it helps replace. This project also established a significant partnership with the Alberta Indigenous Opportunities Corporation, enabling six First Nations to become equity owners.

The company's revenue is generated through the sale of electricity from its operational assets, which are often supported by long-term contracts. For instance, the Cascade project is underpinned by long-term gas supply agreements. Kineticor has a history of strategic asset management, including the acquisition of a partially constructed power plant from Shell in 2017 and the divestiture of other projects. The company has secured substantial funding from investors like OPSEU Pension Trust (OPTrust) and formerly Harbert Power, LLC. Looking forward, Kineticor is advancing new ventures, such as the Greenlight Electricity Centre, a joint venture with Pembina Pipeline to develop a 1,400 MW power generation facility integrated with potential carbon capture and sequestration, aimed at supporting the growing data centre industry in Alberta.

Keywords: power generation, natural gas power, combined cycle, energy infrastructure, electricity producer, Alberta power grid, project development, asset management, energy transition, clean energy, cogeneration, baseload power, Indigenous partnerships, Cascade Power Project, Greenlight Electricity Centre, OPTrust, power purchase agreements, energy investment, utility scale power, Canadian energy market, power plant operation, electricity development