In December 2007, the Company acquired a 50% shareholding of the Stanley Power Inc. which has 49.99% interest in TransAlta Cogeneration L.P. In April 2011, Stanley Power increased the stakes of Meridian Cogeneration Plant in Saskatchewan through acquisition from Cogeneration L.P.
In December 2013, Stanley Power changed its name to Canadian Power Holdings Inc. Currently, Canadian Power Holdings Inc. wholly owns Meridian Cogeneration Plant and through TransAlta Cogeneration L.P. owns three natural-gas fired cogeneration plants in Alberta and Ontario, and a coal-fired generation plant in Alberta. The five plants have a total electricity generating capacity of 1,265 MW.
In July 2016, the Company, together with CK Infrastructure Holdings Limited (CKI) acquired a 65% interest of Husky Midstream Limited Partnership (HMLP). Power Assets holds a 48.75% interest in HMLP.
HMLP’s assets comprise a portfolio of oil pipeline assets in Canada. The portfolio includes approximately 1,900 kilometres of oil pipeline in the Lloydminster region, oil storage capacity of 4.1 million barrels at Hardisty and Lloydminster, as well as other ancillary assets.