Cardinal uses a highly reliable Siemens Westinghouse 501 D5 gas turbine to produce the bulk of the plant's electricity. The steam and compressed air generated by Cardinal is sold at contracted rates to the Canada Starch Operating Company (CASCO) facility, the largest corn refining facility in Canada, under an energy savings agreement (ESA). The ESA expires in 2015 but can be extended by mutual agreement. The CASCO facility is located beside the Cardinal plant.
The nature of Cardinal's PPA and gas supply contracts means that the gas price growth rate will never surpass the electricity price growth rate. This ensures strong, embedded annual growth in cash flow, which distinguishes Cardinal's PPA from others in the industry.
Start of Operations:
1995
Ownership Interest:
100%
Size:
156 MW
Availability*:
97.2%
Power Purchase Agreement Expiry:
2014
Customer:
Ontario Electricity Financial Corporation
Other Contracts:
Gas supply and transportation contracts with Husky Marketing, expiring in 2015
*In year ended December 31, 2008
KEY PERFORMANCE DRIVERS
CARDINAL FACT SHEET
Consistent availability and capacity support reliability of cash flow