Powering What’s Next: Capital Power Signs Long-Term, 250 MW Agreement with Meta

Innovation runs on dependable power

Electrification, industrial growth, and AI are reshaping what the grid has to deliver. Hyperscale data centres do not run on intentions. They run on 24/7, dispatchable electrons, delivered at scale, priced predictably, and available for the long haul.

That is the mark Alberta hits, and it is the standard our fleet was built on. Our Alberta portfolio is flexible, resilient, and sized for the kind of demand that used to be considered a decade away. Meta’s decision to anchor a long-term agreement to that fleet is a signal to every customer thinking about where to site the next generation of digital infrastructure: the power is here, and it is ready.

 Disciplined growth, built for the long term

For our shareholders, this agreement does what our strategy said it would do. It lengthens and diversifies the contract profile of the portfolio, by converting existing, reliable Alberta generation into stable, long-dated cash flows. Importantly, the upside from further commercial optimization in Alberta remains ours to pursue, in particular at the Genesee site.

This is what disciplined growth looks like in practice: use young and efficient fleet that we have operationally optimized, contract it with a high-quality counterparty, and compound value over the long term. It also leaves room to find more value from assets we already run, at Genesee and elsewhere, without new capital at risk.

Strengthening the system: Alberta and Canada are building it

Large-scale digital infrastructure does not choose a jurisdiction by accident. It follows reliable power, clear rules, and a partner base that can deliver. Alberta offers all three, and this agreement is proof.

We are grateful to the Government of Alberta and the Government of Canada for the investment environment that makes projects of this scale possible. Every megawatt contracted here supports jobs, tax base, supply chains, and the long-term resilience of a grid that has to serve Albertans first and a growing digital economy alongside them. Reliable generation is not just an economic asset. It is energy security.

Powering what’s next

Capital Power is one of North America’s leading independent power producers, with approximately 12 GW of generation capacity across 35 facilities, spanning natural gas, renewables, and battery energy storage. We’ve got the fleet, the balance sheet, and the operational discipline to power innovation over the long-term.

Meta’s project is the headline today. The bigger story is that customer’s across North America are looking for this exact profile of power – reliable, scalable and contracted. We are built for this opportunity.