Calgary, AB, June 20, 2024 (GLOBE NEWSWIRE) -- Captus Generation is advancing plans to build new, carbon-neutral, gas-fired power generation facilities near Pincher Creek. The development will supply reliable electricity to Alberta’s grid and potentially support on-site power-consuming businesses such as data centres. The Calgary-based company is exploring a promising opportunity to repurpose Pincher Creek’s historic depleted natural gas field to permanently store the associated carbon emissions using proven carbon capture and sequestration (CCS) technology.
“Captus Generation is poised to take a leading role in powering Alberta’s carbon-neutral future,” says Harry Andersen, Chief Executive Officer of Captus Generation. “We are in the right place, at the right time, with the right business model to demonstrate Alberta’s unparalleled carbon sequestration capabilities, while reinforcing the economic viability of CCS.”
Captus stands out among other CCS projects due to its proximity to existing infrastructure and assets. The site, located approximately 20 kilometres south of Pincher Creek, already has an established natural gas supply and is connected to the grid via nearby high-voltage transmission lines. Carbon emissions captured during power generation will be permanently stored underground in a world-class reservoir beneath the development, eliminating the need for a lengthy and costly pipeline.
“Everything we need to produce reliable, carbon-neutral electricity and safely sequester emissions is either on our planned industrial site or close by,” says Mark Taylor, Executive Vice President of External Affairs and Regulatory with Captus Generation. “This strategic positioning offers substantial cost efficiencies, time savings and streamlined grid integration.”
Initial plans include the construction of a full-scale, 200 MW power plant with potential for expansion. This clean thermal electricity will help stabilize the grid, add value to natural gas, and drive environmental progress for the industry and the province. Carbon will be captured and stored using proven technology that has been used in Alberta for more than 50 years.
Captus expects to deliver substantial economic benefits to the Pincher Creek region through increased investment, tax revenue and the creation of skilled jobs. Early outreach with neighbours, Indigenous communities, regulators and government bodies has laid the groundwork for productive engagement throughout the process.
A final investment decision (FID) is expected in early 2025.
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For more information or to schedule an interview, please email media@captusgeneration.com.
About Captus Generation
Captus Generation is a Calgary-based company with a vision for sustainable energy development south of Pincher Creek. Captus is a subsidiary of BTG Energy, a Canadian company that owns and operates strategically located energy infrastructure across Central and Southern Alberta. Established in early 2024, Captus Generation plans to build carbon-neutral, gas-fired power generation facilities on a non-agricultural industrial site approximately 20 kilometres south of Pincher Creek, Alberta. The Captus plans, which are subject to regulatory approval, envision a full-scale, expandable power plant with carbon capture and sequestration (CCS). Captus is led by a team of energy industry veterans with more than a century of diverse experience in the midstream and upstream sectors in Canada and the United States. To learn more, visit www.captusgeneration.com.
