Lenders finance C$3.5B Greenlight Electricity Centre

On July 2, 2026, a syndicate of agents, arrangers, lenders and hedge providers (collectively, the “Lenders”) completed the C$3.5 billion project financing of the Greenlight Electricity Centre, a 932 MW natural gas-fired combined cycle power plant located in Sturgeon County, Alberta. The project is expected to enter service in the second half of 2030 and is intended to eventually double in capacity.

Pembina Pipeline Corporation, Morgan Stanley Infrastructure Partners and Kineticor Asset Management are partners in Greenlight Electricity Centre Limited Partnership, which owns and will develop the project. The Greenlight Electricity Centre is intended to supply power to the nearby Sturgeon Data Centre project being constructed by Meta Platforms, Inc.

McCarthy Tétrault LLP advised the Lenders with a team led by Trevor Q. Morawski and Joseph R. Palin that included Lynn Parsons, Noel Chow, Simon Lidster, Rhea Evans and Tyson M. Jackson (Financial Services), Kerri Howard, Kimberly J. Howard, Alastair MacKinnon, Ashley Urch and Riley M. Thackray (Energy, Projects & Regulatory), Daphne Rodzinyak (Aboriginal), Luke Madill (Real Property & Planning), and Candace Pallone (Derivatives).