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FINWIRES

Aecon Group Consortium Awarded Multibillion-Dollar Contract For Power Generation Facility

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Aecon Group (ARE.TO) Thursday said TRA, a consortium with majority-owned Tecnicas Reunidas Alberta was awarded a C$4-billion contract by Greenlight Electricity Centre Limited Partnership to build a 932-megawatt power plant in central Alberta to serve data-center power demand.

Aecon's C$1.7 billion share of the contract value will be added to its construction segment backlog in the third quarter. The contract award follows the completion of early engineering and development work.

The Greenlight consortium comprises Pembina Pipeline (PPL.TO), Morgan Stanley Infrastructure Partners, and Kineticor Asset Management, for the Greenlight Electricity Centre (GLEC) project in Sturgeon County, Alberta.

The GLEC will be a 932-MW natural gas-fired combined cycle power generation facility that serves a major data center development.

"The rapid advancement of AI infrastructure, data centres, digital transformation and economic growth are driving one of the most significant power infrastructure investment cycles, and unprecedented demand for power generation in North America," said Chief Executive Jean-Louis Servranckx.

Aecon Group shares were last seen up C$2.03, or 4.5%, to C$47.55, on the Toronto Stock Exchange.

Price: $47.60, Change: $+2.08, Percent Change: +4.57%

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