Innovative technology uses wasted flare gas at oil and gas operations to create electricity for Saskatchewan while significantly reducing emissions
CALGARY, March 4, 2016 /CNW/ - Today near Shaunavon, Kineticor brought a new flare gas power generation facility into commercial operation, providing clean electricity to the Saskatchewan power grid. The power produced will be purchased by SaskPower under a 20-year agreement.
The project is part of SaskPower's Flare Gas Power Generation Program, that helps oil and gas operations reduce their environmental footprint by turning waste flare gas into usable electricity.
"We are grateful for the opportunity to work with SaskPower to bring this project into commercial operation." say Kineticor CEO, Andrew Plaunt. "This project signifies one of the many opportunities for Kineticor to provide oil and gas producers an economical solution to reduce and eliminate flaring. We offer an innovative model to capture and convert energy that would otherwise be flared while significantly reducing the operation's carbon footprint."
"We're very pleased to have Kineticor take part in this program and we applaud them for their willingness to innovate," SaskPower President and CEO Mike Marsh said. "We hope to see more of Saskatchewan's oil and gas operators join the program in the coming years. We can help them mitigate their greenhouse gas emissions, while we buy the power produced to meet Saskatchewan's growing demand for electricity."
Saskatchewan has taken steps to reduce flaring, incinerating and venting of waste gas with new regulations. SaskPower's Flare Gas Power Generation Project allows oil and gas operations to convert waste flare gas into usable electricity for the residents of Saskatchewan. It also represents a small additional revenue source for the operations. In addition, this project will allow further research and development into the emerging technology.
Flare gas power generation is a part of Saskatchewan's diverse generation mix. The development of cleaner electricity generation options is also essential to power Saskatchewan's future. SaskPower will significantly increase the amount of renewable electricity in Saskatchewan's generation mix – from 25% today to as much as 50% by 2030.
About Kineticor Resource Corp.
Founded in 2013, Kineticor is a Calgary, Alberta based independent power producer, focused on providing customized and reliable on-site power generation solutions that create economic advantages for its partners. With the ability to capture waste energy, reduce a sites carbon footprint, and create new revenue streams, Kineticor partners with companies throughout Canada to create value from wasted resources.
Powering Saskatchewan since 1929, SaskPower is proud to support continued growth across the province, and provide safe, reliable and sustainable power to our 500,000 customers. SaskPower will spend an estimated $1 billion per year for the long term to maintain and improve existing infrastructure. With a rapidly developing economy and the second largest service area in Canada, renewing our electricity system and providing world-leading customer service are corporate priorities.
SOURCE Kineticor Resource Corp
For further information: Media Contact: Michael Funk, VP Business Development, Michael.email@example.com, 403.471.0835