Capital Power's Vision for a Cleaner Energy Future at Climate Week
Capital Power's Commitment to Sustainable Energy Solutions
NEW YORK, Sept. 23, 2024 – Capital Power, a prominent North American power producer, is excited to participate in New York Climate Week, marking a pivotal moment in the future of energy production. The world is experiencing an overwhelming demand for abundant, dependable, and cost-effective energy, driven by factors like economic growth, population increases, and cutting-edge technologies, including artificial intelligence (AI).
Addressing Energy Needs in an AI-Driven World
As the global economy continues to develop, the demand for energy expands more than experts anticipated, primarily due to advancements in AI. Everyday conveniences, from virtual assistants to smart home technologies, contribute to a notable demand for energy. This surge in power requirements emphasizes the need for an energy mix that can adequately accommodate our consumption patterns.
Insight from Leadership
“The necessity for balanced energy solutions becomes increasingly critical as power demand rises,” stated Avik Dey, President and CEO. “At Capital Power, we are devoted to Powering Change by Changing Power™. We believe that meeting future energy needs requires embracing multiple solutions—renewables, nuclear, and reliable energy sources like natural gas—creating a robust energy portfolio to drive growth and support the ongoing AI revolution.”
Recent Milestones in Clean Energy Transition
In mid-2024, Capital Power achieved a significant milestone by transitioning the Genesee Generating Station in Alberta, Canada, from coal to be powered entirely by natural gas. This change is projected to cut greenhouse gas emissions by 3.4 million tonnes each year. This accomplishment is a critical element of Capital Power’s strategy to enhance its energy capacity while moving towards a more diversified mix that includes natural gas and renewables, among other innovative technologies.
Building a Resilient and Adaptable Energy Grid
Capital Power's approach to repowering Genesee goes beyond merely increasing generation capacity. It signifies the creation of an adaptable energy grid that accommodates a growing influx of renewable sources. Moreover, this initiative leverages existing facilities to deliver dependable, affordable energy while maintaining job opportunities and supporting local economies during the AI era.
Collaboration for a Sustainable Future
“Repowering Genesee illustrates how we can revamp current infrastructure to help facilitate a long-term transition,” remarked Mr. Dey. “This project enables us to build a grid that meets the energy demands of emerging technologies and data centers while ensuring a sustainable energy future.” The efficient, effective evolution of these energy solutions is essential to the focus of this year’s Climate Week.
Capital Power's Vision for Energy Solutions
Mr. Dey reflects on the company's balanced strategy: “Our approach is founded on a commitment to reliability, affordability, and environmental stewardship. Through collaboration with governments, community leaders, and businesses, we aim to create tailored energy solutions that address the unique needs of regions in this new age fueled by AI-driven advancements.”
Recognizing Indigenous Territories
Capital Power acknowledges the historical and ongoing relationship with Indigenous Peoples. The company operates within regions that are ancestral homelands for many Indigenous communities of Turtle Island, including the Treaty 6 Territory and Métis Nation of Alberta Region 4. This acknowledgment reflects our respect and recognition of the diverse cultures enriching our communities.
About Capital Power
Capital Power (TSX: CPX) operates as a growth-oriented power producer, generating approximately 9,300 MW across 32 facilities in North America. The organization is focused on delivering reliable energy solutions while paving the way toward cleaner power systems required for the future, especially to meet the evolving needs of AI and modern technologies. We are Powering Change by Changing Power™.
Contact Information
For media inquiries, please reach out to:
Katherine Perron
(780) 392-5335
kperron@capitalpower.com
Frequently Asked Questions
1. What is Capital Power's role at New York Climate Week?
Capital Power participates in discussions on sustainable energy solutions and showcases their commitment to transitioning to cleaner energy production.
2. What is the significance of the Genesee Generating Station transition?
This transition from coal to natural gas is projected to lower greenhouse gas emissions significantly, supporting Capital Power's climate goals.
3. How does Capital Power plan to meet rising energy demands?
They aim to integrate various energy solutions, including renewables and natural gas, to create a balanced energy mix.
4. How is Capital Power acknowledging Indigenous communities?
The company recognizes the traditional territories of Indigenous Peoples, emphasizing respect and collaboration with these communities.
5. How can I find more information about Capital Power?
Details can be sought by contacting Media Relations, specifically through Katherine Perron, at the provided contact number or email.
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