NB Power Purchases Saint John Generating Station from Emera Energy
SAINT JOHN- NB Power has purchased the Bayside Generating Station in Saint John from Emera Energy Inc. for $46 million, including inventory, the utility announced Wednesday.
NB Power had been buying the output from the 280-megawatt natural-gas fueled station through a long-term power purchase agreement with Emera Energy Inc., which was set to expire in 2021. The utility says the generating station has been an integral part of serving customers for almost 20 years. With the purchase of this facility, NB Power can more seamlessly integrate the facility into its system.
“Having the Bayside Generating Station as part of our fleet will give us greater flexibility and lowers our future costs,” said NB Power president and CEO Gaëtan Thomas in a release. “In addition, the purchase of Bayside will allow NB Power to continue to meet our obligations of decreasing our carbon footprint in the years to come.”
The purchase agreement was reached after extensive negotiations and inspections of the plant. NB Power says it engaged an independent third party to carry out an inspection and the company was impressed with the station’s condition and capabilities. As part of the agreement, the 20 employees at the facility will become NB Power employees.
The Bayside Generating Station underwent extensive renovations in 2017 which included repairs, and replacement of major turbine components.
“This is a great example of regional collaboration and our shared commitment to carbon reduction,” said Scott Balfour, president and CEO of Emera Inc. “Thinking long term, we agreed that the Bayside facility strategically fits better as part of NB Power’s generation fleet moving forward. We remain committed to New Brunswick through this productive relationship and our ongoing investment in Emera NB’s operations and assets.”