Algoma announced today that just four months after its acquisition of its neighbouring combined heat and power plant (formerly Lake Superior Power Plant), the idled facility is back online supplying power to Algoma’s power grid. August 1st, 2018 marked its first day of production, generating 32 MW of power just in time to meet summer’s peak power requirements.
Algoma CEO Kalyan Ghosh commented on the development, “The redundancy this facility will provide as several of our existing assets approach end of life is of critical importance. Not only does it give Algoma the capability to satisfy its peak power requirements, but it significantly enhances our reliability as we look to ramp up plate production to meet domestic demand.”
The combined heat and power plant has capacity to increase output to 110MW with the addition of a second gas turbine. Initially, the facility will operate intermittently, supplementing Algoma’s current supply of power and steam for the steelworks operation. 127
Algoma is based in Sault Ste. Marie, Ontario. As a fully integrated steel producer, the Company manufactures hot and cold rolled steel products including sheet and plate.
Essar Steel Algoma Inc. filed for creditor protection under the Company’s Creditors Arrangement Act on November 9, 2015. Relevant documents can be found on the Monitor’s website at www.ey.com/ca/essaralgoma and on the Prime Clerk website at http://cases.primeclerk.com/EssarSteel. While the company is officially doing business as Algoma, the company remains Essar Steel Algoma Inc. for legal and financial purposes for the duration of the restructuring process.
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