Joffre is a 480 MW cogeneration, natural gas-fired plant, commissioned in 2000, located at the NOVA Chemicals Corporation petrochemical complex near Red Deer, Alberta. NOVA’s Joffre manufacturing complex is a large ethylene and polyethylene production facility.

The cogeneration plant at NOVA’s Joffre complex is owned by a joint venture that includes Capital Power, ATCO Power Canada Ltd. and NOVA, with respective interests of 40%, 40% and 20%. It began commercial operations in May 2001. On February 23, 2009, International Petroleum Investment Company announced that it had entered into an agreement providing for the acquisition of all of NOVA’s outstanding common shares. International Petroleum Investment Company is wholly owned by the government of the Emirate of Abu Dhabi, which has a credit rating from S&P of AA. Completion of the acquisition is subject to receiving regulatory approvals. NOVA shareholders approved the transaction on April 14, 2009.

ATCO is the operator of the Joffre cogeneration plant. The plant produces both steam and electricity. All of the steam and a portion of the electricity are used by the host petrochemical complex. Of the net electricity output from the plant, approximately 110 MW to 115 MW is used at the petrochemical complex, and the balance is sold to the Alberta Balancing Pool. ATCO markets the power that is surplus to the needs of the petrochemical complex. The Joffre plant is one of the largest cogeneration plants in Canada.

The plant utilizes two Siemens-Westinghouse 501F combustion turbines, two Nooter Erickson Heat Recovery Steam Generators, one Toshiba steam turbine and a Rentech vapour high-pressure boiler.

Joffre is Capital Power’s largest cogeneration and combined-cycle facility, and it provides the Company with a significant position as a mid-merit participant in the Alberta market.