KALiNA Advances 1.7GW Canadian Power Portfolio, Secures $1.5M Capital
KALiNA Power has advanced its Canadian AI data centre power portfolio with strategic site sales, partnerships, and a $1.5 million capital raise to fund development milestones.
- Progress on multiple ~170 MW natural gas-fired Power-CCS projects in Alberta
- Sale of Saddle Hills 60 MW site and potential sales of 170 MW project sites underway
- Strategic Framework Agreement development with Crusoe Energy for AI co-siting
- Engagement of TwelveSix to manage competitive sales campaigns for project sites
- Raised $1.5 million via placement and entitlement offer to support working capital and project development
Portfolio Advancement Amid Growing AI Data Centre Demand
KALiNA Power Limited (ASX: KPO) has reported significant progress during the March 2025 quarter on its Canadian portfolio of natural gas-fired combined cycle power plants incorporating carbon capture and sequestration (Power-CCS). These projects, developed through its wholly owned subsidiary KALiNA Distributed Power Limited (KDP), target the burgeoning AI data centre market with reliable and affordable electricity solutions.
The portfolio includes five secured sites in Alberta with a combined potential capacity of approximately 1.7 GW. During the quarter, KALiNA focused on strategic initiatives including the sale of the 60 MW Saddle Hills project site and exploring sales of one or more 170 MW Power-CCS sites. These moves aim to unlock value and accelerate project development.
Strategic Partnerships and Sales Campaigns
To enhance commercialisation efforts, KDP appointed Calgary-based TwelveSix, a specialist in data centre financial assessment and site acquisition, to lead competitive sales campaigns. TwelveSix brings recent success in brokering site acquisitions for data centre projects, notably assisting Bitdeer Technologies Group in a C$21.7 million site purchase for a 101 MW gas-fired power plant.
Alongside sales activities, KDP is advancing its Framework Agreement with Crusoe Energy, focusing on AI co-siting opportunities. Discussions continue on site prioritisation, project scope, and development timelines, with a Project Development Agreement Template being drafted to underpin future contracts.
Expanding Financing and Strategic Negotiations
KALiNA is actively engaging with a diverse range of potential strategic partners, including data centre operators, power companies, and oil and gas midstream firms, all showing interest in site acquisitions and project development. Negotiations also involve carbon hub operators for CO2 custody and sequestration services, critical to the Power-CCS model.
Financially, the company raised $1.5 million through a placement and entitlement offer priced at 0.8 cents per share, with proceeds earmarked for working capital and advancing project milestones. Cash outflows during the quarter were primarily directed towards Alberta project development, reflecting the company’s commitment to progressing its core assets.
Management Outlook and Market Positioning
Managing Director Ross MacLachlan highlighted the rapid expansion of interest in KALiNA’s Alberta sites, citing catalysts such as site sales, joint ventures, and portfolio funding as key to unlocking shareholder value. The appointment of TwelveSix is expected to accelerate commercial outcomes, while ongoing negotiations with Crusoe Energy and other strategic parties position KALiNA well within the evolving AI data centre power landscape.
With no director payments during the quarter but active participation in the placement, management’s alignment with shareholder interests is evident. The company also clarified details on land option agreements secured in Crossfield and Clairmont, reinforcing its land bank position for future development.
Bottom Line?
KALiNA’s strategic sales and partnerships are setting the stage for transformative growth in AI data centre power supply.
Questions in the middle?
- Which specific project sites are most likely to be sold or developed first?
- How will the Framework Agreement with Crusoe Energy translate into concrete project contracts?
- What are the timelines and terms expected for securing third-party financing to scale development?
