TransCanada Corp. is to build a 90 MW natural gas-fired cogeneration plant on the site of Irving Oil Limited’s oil refinery in St John, New Brunswick, Canada.
TransCanada will own and operate the proposed Grandview plant, with Irving providing fuel and contracting to buy all of its heat and electricity output under a 20-year tolling arrangement. The plant is expected to open by the end of 2004.
Irving Oil’s refinery producing 250,000 barrels per day in St John is the largest in Canada. Including the Grandview facility, TransCanada now owns, controls or is constructing nearly 4700 MW of power generation plant.
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