Why it matters
The strategic read
Adds a same-day hard power and construction receipt for the AI power bottleneck. Greenlight is not a generic utility project: Pembina says the plant will provide dedicated behind-the-meter power to a major data-center customer under a long-term tolling structure, while Aecon scopes the EPC package across civil, mechanical, electrical, gas-metering, switchyard and substation work. It shows data-center demand pulling midstream gas, project debt, turbine procurement, fixed-price EPC, substations and infrastructure capital into one AI power platform.
Source-supported terms
What was disclosed
- 01
Aecon announced on July 2, 2026 that TRA, a consortium with Tecnicas Reunidas Alberta in which Aecon holds a majority share, was awarded a multibillion-dollar contract by Greenlight Electricity Centre Limited Partnership.
- 02
Pembina Pipeline, Morgan Stanley Infrastructure Partners and Kineticor Asset Management announced a positive final investment decision on the Greenlight Electricity Centre the same day.
- 03
Greenlight Electricity Centre LP is comprised of Pembina Pipeline Corporation, Morgan Stanley Infrastructure Partners and Kineticor Asset Management.
- 04
Pembina said Greenlight is owned 47.5% by Pembina, 47.5% by MSIP and 5% by Kineticor, with future capital expenditures funded equally by Pembina and MSIP.
- 05
Pembina said the total project cost is expected to be approximately C$4.6B gross, or approximately C$2.3B net to Pembina, including C$0.6B gross of interest during construction and other financing costs.
- 06
Pembina said Greenlight has entered a long-term Electrical Energy Supply Agreement with the customer under which Greenlight will provide 932 MW of capacity to power the customer's data centre.
- 07
The EESA is structured as a tolling agreement with capacity payments plus usage-based payments including fuel, operations and maintenance costs.
- 08
Greenlight has arranged asset-level debt financing for approximately 60% of the project cost, with the remaining 40% to be financed through equity contributions.
- 09
Pembina expects the project to generate approximately C$310M of annual run-rate adjusted EBITDA net to Pembina once operational.
- 10
Aecon said its $1.7B share of the contract value will be added to its Construction segment backlog in the third quarter of 2026.
- 11
The contract follows completion of early engineering and development work and expands Aecon's role in critical power infrastructure supporting demand from artificial intelligence, digital infrastructure, data centres and broader electrification trends.
- 12
The Greenlight Electricity Centre is planned as a 932 MW natural gas-fired combined-cycle power generation facility in Sturgeon County, Alberta.
- 13
Aecon said GLEC will serve a major data centre development and is being developed to supply electricity to a co-located data centre.
- 14
The site has potential to expand to a permitted generation capacity of 1,864 MW.
- 15
Aecon described GLEC as anticipated to be one of Alberta's largest new sources of dispatchable power generation.
- 16
Pembina said GLEC will use Siemens Energy SGT6-8000H gas turbines, SST6-5000 KN steam turbines and SGen6-3000W generators under fixed-price and long-term service agreements.
- 17
Pembina said approximately 85% of project cost has been secured under fixed-price agreements, including the Aecon / Tecnicas Reunidas EPC package and Siemens turbine purchase.
- 18
Pembina said GLEC will require approximately 150 million cubic feet per day of natural gas and has secured sufficient long-term gas transportation capacity through Alliance Heartland Expansion, TC Energy NGTL and other commercial arrangements.
- 19
The EPC and commissioning scope includes civil works, piping, mechanical, structural, electrical, instrumentation, gas metering, switchyard and substation work.
- 20
Construction is expected to start in the third quarter of 2026, and Pembina said the anticipated in-service date is in the second half of 2030.
- 21
Aecon CEO Jean-Louis Servranckx said AI infrastructure, data centres, digital transformation and economic growth are driving a major power infrastructure investment cycle and unprecedented demand for power generation in North America.
- 22
Aecon framed the award as supporting digital sovereignty and delivery of large-scale, mission-critical energy assets.
Disclosure boundary
What is known—and what is not
Primary Pembina Pipeline and Aecon / GlobeNewswire releases. Public materials disclose positive FID, Greenlight ownership, C$4.6B gross total project cost, Pembina net investment economics, asset-level debt/equity financing mix, long-term EESA / tolling structure, 932 MW dedicated data-center capacity, C$310M expected annual run-rate adjusted EBITDA net to Pembina, Siemens turbine package, long-term gas transportation capacity, 150 MMcf/d gas requirement, Aecon majority-consortium role, Aecon $1.7B backlog share, 1,864 MW permitted expansion potential, Sturgeon County location, co-located major data-centre tie, AI infrastructure / digital infrastructure framing, broad EPC and commissioning scope, Q3 2026 construction-start target and second-half-2030 in-service target. Public materials do not disclose the full EESA or EPC contract, customer identity, customer credit agreement, pricing, turbine delivery schedule, exact data-center capacity/MW split, gas-supply prices, project-finance lenders, interest rates, interconnection/export rights, construction milestones, liquidated damages, cancellation rights or remedies.