CALGARY, Oct. 31, 2012 /CNW/ - Genalta Power Inc. announces the signing of a 20 year power purchase agreement with Pengrowth Energy Corporation to convert clean fuel into electricity on their Judy Creek site.
This power Project is a simple cycle turbine-generator that will use on site fuel gas to generate power to mitigate operating costs for Pengrowth Energy Corporation on their Judy Creek Production Complex. The project is forecast to be commissioned by the end of September 2013 and will sell the power back to Pengrowth over a 20 year contract.
"We are very excited to be entering into a long term arrangement with Pengrowth Energy Corporation to develop a clean fuel to electricity project for their Judy Creek site" said Graham Illingworth, Genalta Power CEO, "I look forward to a successful collaboration."
This facility will be able to dispatch variably to capture only the most profitable electricity prices. This system was designed specifically for the Judy Creek Production Complex to optimize the output and significantly reduce operating costs which will enhance its competitiveness.
About Genalta Power
Genalta Power is a privately held Canadian corporation in the business of developing, owning and operating independent power plants that produce and sell environmentally-friendly electricity from waste and clean energy sources. Genalta capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities. Genalta pursues a mix of waste heat recovery, waste fuel gas, waste pressure and gas to power projects. Genalta is developing projects in strategic regions of North America with an emphasis on the oil and gas industry. Visit www.genaltapower.com for more information.
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SOURCE: Genalta Power Inc.
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Genalta Power Inc.
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