December 17, 2012 – TransCanada Corp. says it has signed a contract with the Ontario Power Authority (OPA) to develop, own and operate a 900MW natural gas-fired power plant, which will be located at Ontario Power Generation’s (OPG’s) Lennox Generating Station property in Greater Napanee, Ont.

“We will take the necessary steps to ensure this is an environmentally responsible project and will also focus on the safety of the community, our employees and being a good neighbour,” said Russ Girling, TransCanada’s president and CEO.

Construction of this facility will mean an investment of millions of dollars in the local community that supports the creation of about 600 construction jobs and an expected 25 long-term jobs, says TransCanada.

The Napanee power plant will act as a replacement facility for one that was planned in the community of Oakville, Ont. It will operate under a 20-year power purchase arrangement with OPA.

TransCanada currently operates the 683MW Halton Hills Generating Station in Ontario, has a 50% ownership in the 550MW Portlands Energy Centre on the Toronto waterfront, and has agreed to purchase nine Ontario solar plants. It also owns 49% of Bruce A nuclear and 32% of Bruce B nuclear.