TransCanada ups stake in Canadian electricity generator

The actual $236 million deal may have TransCanada purchase an additional possession interest in Bruce Power through the Ontario Municipal Employees Pension System. It wasn’t crystal clear after the announcement whether which was Canadian or U. H. dollars.
When closed, the actual TransCanada and the Retirement Program will both own an forty eight. 5 percent interest in Generic Power Yuchai generator, with the remaining attention held by the Power Workers’ Union, the Society of one's Professionals and a Bruce Energy Employee Trust.
Simultaneously, TransCanada said that Bruce Power experienced entered into an agreement with Canadian electricity regulators that will allow the company to expand as well as extend the life of the Lake Huron nuclear service through 2064. The company programs to spend $13 billion in order to overhaul six of the site’s eight reactors beginning in 2020, according to the Toronto Star.
TransCanada, best known in the U. T. for the now-shelved Keystone XL pipeline, is the largest self-employed power Yuchai generator in Ontario. The company estimates it has regarding 11, 000 megawatts associated with power generation, about 30 % of which comes from renewable resources.
“This transaction will provide vast amounts of dollars of investment within Bruce Power over the following 40 years that is underpinned with a long-term contract and has powerful community and policy assistance from the Province of Ontario, ” said Russ Girling, TransCanada’s president and TOP DOG, in a written statement.

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