Aecon wins $1.7B share of Alberta power plant contract

Aecon Group Inc. (TSX: ARE) announced that TRA, a consortium in which Aecon holds a majority share alongside Técnicas Reunidas Alberta, Inc., has been awarded a multibillion-dollar contract for the Greenlight Electricity Centre (GLEC) project in Sturgeon County, Alberta.

Aecon's portion of the contract is valued at $1.7 billion and will be added to its Construction segment backlog in the third quarter of 2026. The client is Greenlight Electricity Centre Limited Partnership, a partnership between Pembina Pipeline Corporation (47.5%), Morgan Stanley Infrastructure Partners (47.5%), and Kineticor Asset Management (5%).

The GLEC will be a 932 MW natural gas-fired combined cycle power generation facility designed to supply electricity to a co-located data centre. The site holds a permitted expansion capacity of up to 1,864 MW. Construction is expected to begin in the third quarter of 2026, with anticipated completion in 2030.

The construction scope includes civil works for existing and future power islands, along with piping, mechanical, structural, electrical, and instrumentation work for the balance of plant, gas metering station, switchyard, and substation.

"The rapid advancement of AI infrastructure, data centres, digital transformation and economic growth are driving one of the most significant power infrastructure investment cycles, and unprecedented demand for power generation in North America," said Jean-Louis Servranckx, President and Chief Executive Officer of Aecon Group Inc.

According to a press release statement, the contract follows the completion of early engineering and development work. Aecon's previous gas and power infrastructure projects include the TC Energy Napanee Generating Station and the Portlands Energy Centre in Ontario, as well as the Spy Hill Peaking Station in Saskatchewan.

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