TC Energy announces US$0.4 billion Elwood Power/ANR Horsepower Replacement Project
30 July 2020 - 9:00PM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy)
announced today that it will proceed with the Elwood Power/ANR
Horsepower Replacement Project that will replace, upgrade and
modernize certain facilities along a highly utilized section of its
ANR Pipeline Company (ANR) natural gas transmission system. Under a
long-term agreement, ANR would provide up to 125,000 Dth/d of firm
transportation service to an existing power plant.
“The facilities are designed to enhance the safety and
reliability of our ANR pipeline system while reducing emissions,”
said Russ Girling, TC Energy President and Chief Executive Officer.
“This investment will serve to reinforce a key portion of our ANR
pipeline network in the Midwest allowing us to maximize its
capacity to support increased power generation, and highlights the
opportunities for organic growth along our existing
right-of-way.”
The facilities work includes compression and ancillary upgrades
as well as other modifications along ANR’s existing infrastructure.
The project is targeted to be brought in service in the second half
of 2022 with an estimated cost of US$0.4 billion.
About TC Energy We are a vital part of everyday
life - delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,300 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis release
contains certain information that is forward-looking and is subject
to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide TC Energy security holders and potential investors with
information regarding TC Energy and its subsidiaries, including
management's assessment of TC Energy's and its subsidiaries' future
plans and financial outlook. All forward-looking statements reflect
TC Energy's beliefs and assumptions based on information available
at the time the statements were made and as such are not guarantees
of future performance. As actual results could vary significantly
from the forward-looking information, you should not put undue
reliance on forward-looking information and should not use
future-oriented information or financial outlooks for anything
other than their intended purpose. We do not update our
forward-looking information due to new information or future
events, unless we are required to by law. For additional
information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to the most recent Quarterly Report to
Shareholders and Annual Report filed under TC Energy’s profile on
SEDAR at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
-30-
Media Inquiries:Carol Wirth / Matt
Zborowski403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mau403-920-7911 or 800-361-6522
PDF
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