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Canada’s largest natural gas producer wants private-equity investment for its recently formed subsidiary, Emerald Energy Technologies, as it chases cleantech and data-centre power generation oportunities—including the proposed one-gigawatt Malachite One development in west-central Alberta. (The Logic)
Talking point: No hyperscale customer has been publicly identified yet for the proposed $20-billion Malachite One data centre and power plant southwest of Edson in Yellowhead County. On the company’s third-quarter earnings call Thursday, Tourmaline CEO Mike Rose said the project, planned to be adjacent to the company’s existing Banshee gas plant, could see a final investment decision next year. Rose said it plans to begin generating electricity using temporary generators in 2028, before ramping up toward full buildout of one gigawatt of capacity in 2029. Rose said Emerald allows Tourmaline to capitalize on growing demand for data-centre electricity without directly shouldering the project’s capital costs. “The whole data-centre power piece is moving very quickly up here and accelerating,” he said.
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