Morgan Stanley Invests in 932 MW Power Project
Morgan Stanley Investment Management (MS), through investment funds managed by Morgan Stanley Infrastructure Partners announced an investment in Greenlight Electricity Centre, a 932-megawatt gas-fired combined cycle power generation project in Sturgeon County, Alberta. MSIP is investing alongside large-cap company, Pembina Pipeline Corporation (PBA), and Kineticor Asset Management to support the construction of the project. MSIP and Pembina will each hold a 47.5% ownership interest in Greenlight, with Kineticor holding the remaining 5%. The investment reflects MSIP's continued thematic focus on developing and constructing contracted power assets that help address the structural supply-demand imbalance in North American electricity markets. Greenlight is expected to provide long-term, reliable power to support growing electricity demand driven by artificial intelligence and data center growth. Once completed, Greenlight is expected to supply power under a long-term agreement to a major data center development customer constructing a co-located data center campus. The project is expected to utilize high-efficiency combined-cycle gas turbine technology and is expected to begin supplying power in the second half of 2030. Pembina will serve as construction and operations manager for the project, bringing local operating expertise and experience delivering large-scale infrastructure projects. Kineticor, the developer behind Greenlight, will continue to provide construction support.
