Energy & Power
Kineticor announces 100MW Peace River Power Project
July 20, 2016 By Renée Francoeur
July 20, 2016 – Kineticor Resource Corp. says it 100MW Peace River Power Project is inching closer to reality as it has entered into long-term agreements with oil and gas producers. According to the company, this project will use associated gas—produced as a result of heavy oil production near Peace River, Alta.—to create energy while reducing flaring in the area.
“The project is reducing both costs and emissions typically associated with natural gas processing and distribution to a power plant by producing power directly on-site,” said Kineticor CEO Andrew Plaunt, adding the electricity generated will be enough to power nearly 90,000 homes.
The project has an expected capital cost of over $100 million and will create up to 120 construction jobs, Kineticor says. It plans to be operating in the second half of 2017.
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