The NB Power head office in Fredericton. (Image: NB Power/submitted)
A natural gas-fueled generating station in Saint John has a new owner.
NB Power has bought the facility on Bayside Drive from Emera Energy for $46 million.
The utility had been buying power from the facility through a long-term agreement, which was set to expire in 2021.
“Having the Bayside Generating Station as part of our fleet will give us greater flexibility and lowers our future costs,” said Gaëtan Thomas, president and CEO of NB Power, in a statement.
“In addition, the purchase of Bayside will allow NB Power to continue to meet our obligations of decreasing our carbon footprint in the years to come.”
"Bayside will allow NB Power to continue to meet our obligations of decreasing our carbon footprint in the years to come.” NB Power purchases Bayside Generating Station from Emera Energy Inc. https://t.co/GJzDBusbCg pic.twitter.com/No4ptgrTsR
— NB Power (@NB_Power) March 6, 2019
NB Power says the purchase follows extensive negotiations and inspections of the plant by an independent third party.
The facility underwent extensive renovations in 2017, including repairs and replacement of major turbine components.
Officials say the 20 people who work there will become NB Power employees.
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