Goreway Station Partnership

What Goreway Station Partnership does

Goreway Station Partnership is a wholly-owned operating subsidiary of Capital Power Inc. (TSX: CPX) that runs a 915 MW natural gas-fueled combined cycle power generation facility in Brampton, Ontario. The station commenced operations in 2009 and was acquired by Capital Power in June 2019 from Goreway Power Station Holdings Inc. Its core technology combines combined cycle gas turbines (capturing waste heat via steam turbines for higher efficiency), Selective Catalytic Reduction emission controls (NOx below 8.5% of allowable limits; SO2 below 1% of allowable limits), and a dry air-cooled condenser that recycles feedwater using less than 5% make-up water. In August 2025, Capital Power commissioned a 50 MW / 4-hour battery energy storage system at the site under a separate 22-year power purchase agreement with the IESO through 2047, and completed a 40 MW station upgrade contracted to the IESO through 2035. The BESS charges during off-peak hours and discharges during peak periods or supply disruptions, supporting renewable integration.

The business model is straightforward and entirely contract-based: Goreway sells electricity, capacity, and storage services exclusively to the Ontario Independent Electricity System Operator (IESO). The facility operates under a 20-year Accelerated Clean Energy Supply Contract (through June 2029), with the 2025 upgrades extending contracted revenue visibility to 2035 and 2047 respectively. Pricing is determined through IESO procurement processes and is not publicly disclosed. With only 15 employees, the entity operates as a lean, asset-level subsidiary within Capital Power's broader North American portfolio, and its financial results are not reported on a standalone basis.

Goreway's primary customer is IESO, which is the sole off-taker for both generation and storage output. The asset plays a peak-and-intermediate role in Ontario's grid, with the BESS providing grid stabilization, energy time-shifting, and renewable integration services. There are no additional customer segments, distribution channels, or product lines beyond the IESO relationship, making Goreway a single-asset, single-customer contracted power platform rather than a diversified energy business.

Name

Goreway Station Partnership

Legal name

Capital Power Inc.

Website

https://gorewaypowerstation.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Goreway Station Partnership is a Capital Power subsidiary operating a 915 MW natural gas combined cycle power plant and 50 MW battery storage facility in Brampton, Ontario, selling all electricity and capacity to the IESO under long-term contracts.

Ownership category

akta.pro rank

Headquarters

HQ city

Brampton

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Electricity and Capacity Sales to IESO: The Goreway Power Station generates revenue through the sale of electricity and capacity to the Ontario Independent Electricity System Operator (IESO). The facility operates under a 20-year Accelerated Clean Energy Supply Contract with IESO until June 2029. Capital Power upgraded the station in 2025 to add 40 MW of contracted capacity to IESO through 2035. Revenue is long-term contract-based, providing stable, predictable cash flows from a single major off-taker.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Goreway Station Partnership operates the Goreway Power Station, a 915 MW natural gas-fueled combined cycle facility, and the Goreway Battery Energy Storage System, a 50 MW / four-hour storage facility, both located in Brampton, Ontario. The partnership generates and sells electricity and capacity exclusively to the Ontario Independent Electricity System Operator (IESO) under long-term contracts, providing reliable baseload and peak power plus grid-stabilizing battery storage to Ontario's electricity grid.

Product overview

Goreway Station Partnership operates a portfolio of power generation assets consisting of the Goreway Power Station (GPS), a 915 MW natural gas-fueled combined cycle facility, and the Goreway Battery Energy Storage System (BESS), a 50 MW battery energy storage facility. The GPS provides baseload and peak electricity to Ontario's power grid, while the BESS complements it by storing energy during off-peak hours for discharge during peak demand periods. Both facilities are contracted to the Ontario Independent Electricity System Operator (IESO) under long-term power purchase agreements.

Differentiator

Problem solved

Functional benefit

Brands

• Goreway BESS: Battery Energy Storage System providing 50 MW of power storage capacity with electrical energy output for up to four hours, operating independently of the main GPS facility.

Products and services

• Goreway Power Station (GPS) A 915 MW natural gas-fueled combined cycle power generation facility located in Brampton, Ontario, that supplies electricity to Ontario's power grid 24/7, primarily operating during intermediate and peak demand periods. It is contracted to the Ontario Independent Electricity System Operator (IESO) under a 20-year Accelerated Clean Energy Supply Contract until June 2029, with a 40 MW upgrade contracted to 2035.
• Goreway Battery Energy Storage System (BESS) A 50 MW battery energy storage facility providing up to four hours of electrical energy output, operated independently of the main Goreway Power Station. It charges during off-peak hours and discharges during peak demand or supply disruptions, and supports integration of intermittent renewable energy sources. Contracted to IESO under a 22-year power purchase agreement until 2047.

Quantifiable outcome

• NOx emissions at less than 8.5% of allowable limit; SO2 emissions at less than 1% of allowable limit
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Ontario Independent Electricity System Operator (IESO)coreStrategic or Co-development Partner · 1 January 2025IESO is the primary off-taker and contracting partner for Goreway Power Station. The facility operates under a 20-year Accelerated Clean Energy Supply Contract with IESO until June 2029. In 2025, Capital Power completed two new energy projects for Goreway in response to IESO's call for new power generation and capacity: (1) a 40 MW station upgrade contracted to 2035, and (2) a 50 MW battery energy storage system under a 22-year power purchase agreement (Category 2 of IESO's Expedited Long-Term request for proposals). IESO contracts continue through 2035 and 2047 respectively.

Scale indicators6 records

Recent moves4 records

Expansion highlights2 records

Broad incumbents

• Calpine Corporation: Largest US fleet of natural gas combined cycle and geothermal capacity, operating in wholesale and capacity markets. Comparable technology profile (CCGT, BESS co-location, emissions control) though serving US rather than Ontario markets.
• NextEra Energy Resources: World's largest generator of renewable energy from wind and solar, with significant natural gas and battery storage capacity. Comparable as a CCGT-plus-storage operator, though predominantly renewable-weighted and US-focused.
• Capital Power Corporation: Goreway's parent company and a publicly traded Canadian independent power producer with a diversified North American portfolio of CCGT, renewables, and storage. Directly relevant as the entity that owns, operates, and capital-allocates against Goreway.
• Vistra Corp: Major US independent power producer with a large natural gas and coal fleet plus growing battery storage portfolio. Comparable as a large-scale CCGT-and-storage operator navigating the energy transition, though in US rather than Canadian markets.

Direct peers

• TransAlta Corporation: Canadian power generator operating a comparable portfolio of natural gas combined cycle and renewable assets, including thermal generation in Ontario and Alberta. Directly comparable as a regulated, contracted Canadian IPP with CCGT and storage exposure.
• Northland Power: Canadian independent power producer with natural gas and renewable assets, including significant Ontario presence. Comparable as a contracted Canadian IPP with thermal generation and increasingly storage exposure in similar IESO markets.
• Ontario Power Generation: Provincial Crown corporation and Ontario's largest electricity generator, operating nuclear, hydro, and thermal capacity selling exclusively to IESO. Directly comparable as an Ontario-based generator operating under long-term IESO contracts.
• ATCO Power: Canadian subsidiary of ATCO Ltd. operating natural gas-fired and other thermal generation assets across Canada. Comparable as a Canadian thermal power operator with similar CCGT technology and contracted off-take structures.

Regional players

• Hydro-Québec: Canadian provincial utility operating one of North America's largest generation fleets, predominantly hydroelectric. Comparable as a large Canadian regulated utility with significant generation capacity, though in Quebec rather than Ontario and with a different generation mix.
• Bruce Power: Operator of the Bruce Nuclear Generating Station, Ontario's largest electricity source, selling exclusively to IESO. Comparable as a major contracted Ontario generator serving the same single off-taker, though with nuclear rather than thermal technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/goreway-station-partnership

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goreway Station Partnership