KALiNA Power advances its Alberta AI data centre power projects with a significant CAD 18 million transfer of assigned megawatts and engages bankers to fund development capital.
- CAD 18 million transfer of 180 MW assigned capacity completed
- Engagement of PEI Global Partners and Moneta Securities for financing
- Sales campaign underway for non-core project sites
- Ongoing negotiations with Crusoe for co-located data centre power projects
- Quarterly cash outflows of $1.06 million with $458,000 cash on hand
Strategic Milestones in Alberta Power Projects
KALiNA Power Limited (ASX – KPO) has reported meaningful progress in its portfolio of natural gas-fired power projects in Alberta, Canada, aimed at meeting the surging electricity demand from AI data centres. The company’s wholly owned subsidiary, KALiNA Distributed Power Limited (KDP), is developing behind-the-meter power plants designed to provide reliable and affordable electricity directly to data centres, bypassing grid constraints.
During the quarter ending 30 September 2025, KALiNA completed a significant transaction involving the transfer and sale of 180 megawatts (MW) of assigned capacity under Alberta’s Electric System Operator (AESO) Limit Assignment Process. This transfer generated CAD 18 million in revenue, substantially strengthening the company’s cash position and validating its business model amid unprecedented demand for data centre power in Alberta.
Navigating Alberta’s Grid Constraints and Market Demand
The Alberta grid is currently facing a supply-demand imbalance, with AI-related power applications exceeding 20 GW; far surpassing the grid’s peak capacity of approximately 12 GW. AESO’s interim allocation of 1.2 GW for 2027/2028 has forced many large consumers to seek on-site generation solutions. KALiNA’s projects, which integrate behind-the-meter generation, are well positioned to capitalize on this market dynamic, offering data centres co-located power solutions that align with provincial priorities for grid stability and carbon capture readiness.
While progress with Crusoe, a key data centre partner, has been slower than initially anticipated, discussions continue around project scope, site prioritization, and commercial agreements. Face-to-face meetings scheduled in the U.S. aim to accelerate these negotiations and solidify the framework for future developments.
Capital Formation and Project Sales Initiatives
To fund pre-financial investment decision (Pre-FID) development costs, KALiNA has engaged investment bankers PEI Global Partners and Moneta Securities. These firms bring sector-specific expertise and are actively managing presentations with infrastructure investment funds to secure the necessary capital. Concurrently, the company has launched sales campaigns for non-core project sites, including the Clairmont, Gilby, and Saddle Hills Energy Parks, overseen by Calgary-based TwelveSix, targeting qualified buyers interested in Alberta’s data centre power market.
Financially, the company reported operating cash outflows of $1.06 million for the quarter, with cash reserves standing at $458,000. Director fees of $151,000 were paid for prior quarter services. The recent CAD 18 million inflow from the megawatt transfer significantly improves liquidity, but the company’s cash runway remains limited without further capital injections.
Management Perspective and Outlook
CEO Ross MacLachlan emphasized the transformative impact of the megawatt sale on KALiNA’s balance sheet and the strong validation it provides for the company’s strategy. He highlighted the alignment of KALiNA’s behind-the-meter power projects with Alberta’s energy policy and the AESO’s vision for data centre power supply. The company is focused on securing financing and advancing project sales to accelerate development and capitalize on the robust growth opportunity presented by AI data centre expansion in Alberta.
Bottom Line?
KALiNA’s recent CAD 18 million megawatt sale marks a pivotal step, but securing further financing will be critical to sustain momentum in Alberta’s competitive AI data centre power market.
Questions in the middle?
- Will KALiNA successfully secure the full financing needed to advance its project portfolio?
- How quickly can negotiations with Crusoe be finalized to unlock priority project developments?
- What impact will Alberta’s grid constraints have on the timing and scale of KALiNA’s power plant deployments?