OPG to acquire three natural gas plants from TC Energy for $2.87bn.

Ontario Power Generation(OPG), the largest electricity generator in Canada, agreed to acquire three offshore gas plants from TC Energy for $2.87bn. The transaction would cover: 100% ownership of Napanee Generating Station (900 MW),100% ownership of Halton Hills Generating Station (683 MW), Remaining 50% ownership of Toronto’s Portlands Energy Centre (50% of 550 MW). “The role that natural gas plays in maintaining system reliability has become even more important with the addition of intermittent wind and solar generation in recent years. Natural gas is the partner or enabler of renewable energy, providing the flexibility required to ensure a reliable electricity system,” Ken Hartwick, OPG President and CEO.