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 four natural-gas fired cogeneration plants in Alberta and Ontario. The five plants have a total electricity generating capacity of 1,284 MW.
In June 2021, Canadian Power Holdings Inc. acquired “Okanagan Wind”, comprising two wind farms, the Pennask and the Shinish Creek, in the Okanagan region of British Columbia. With a combined capacity of 30 MW, Okanagan Wind commenced commercial operations in 2017 and is the first wind generation platform in the Okanagan region.
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 2,200 kilometres of oil pipeline in the Lloydminster region, oil storage capacity of 4.4 million barrels at Hardisty and Lloydminster, as well as other ancillary assets.