Coal, Gas

ATCO Power completes new 45 MW power plant in Alberta, Canada

CALGARY, AB Canada, Jan. 29, 2002 — ATCO Power has started generating power from its 45 megawatt (MW) plant at Valleyview east of Grande Prairie, the sixth new independent generating facility built by the Alberta-based company since electrical deregulation was announced in the province.

Located about 100 kilometers east of Grande Prairie, the $40 million plant, built in only 10 months, is now producing sufficient new electricity to power approximately 36,000 homes. The natural gas fired turbine is an environmentally progressive low nitrous oxide unit.

“Since the start of deregulation ATCO Power has taken a strong leadership role to deliver additional environmentally progressive power to Albertans,” said Gary Bauer, President, ATCO Power. ” We will soon add new technology at Valleyview to bring even more stability to the power system in the region.”

ATCO plans to add a synchronous condenser clutch to the power plant in order to provide enhanced voltage support in the region in addition to the new power now being generated. A synchronous condenser clutch added to ATCO Power’s Poplar Hill plant east of Grande Prairie resulted in it winning a prestigious international award in 2000 for leadership in the application of new technology.

ATCO Power is a developer of environmentally progressive generation facilities. It has built, owns and operates power plants in Canada, the United Kingdom and Australia. ATCO Power currently has under construction power plants at the Muskeg River Mine, the Scotford Upgrader and the Oldman River Dam in Alberta and at the Cory Mine in Saskatchewan. ATCO Power operates 12 natural gas turbine plants worldwide with a capacity of over 2150 megawatts and three coal-fired generating stations in Alberta with a capacity of over 1500 MW.

ATCO Power is a member of the ATCO Group, an Alberta-based corporation with a worldwide organization of companies and more than 6000 employees engaged in power generation, utilities, logistics and energy services, industrials and technologies. More information about ATCO can be found on its web site, www.atco.com.