Suncor Energy to invest C$1.4B in cogeneration at Oil Sands Base Plant

|About: Suncor Energy Inc. (SU)|By:, SA News Editor

Suncor Energy (NYSE:SU) announces plans to spend C$1.4B to replace its coke-fired boilers with low-carbon power cogeneration at its Oil Sands Base Plant.

Through Oil Sands operating cost and sustaining capital reductions as well as margin improvements, SU expects the project will deliver a high-teens return as it enters service in H2 2023 and substantially contribute to the company's goal of an increased $2B in free funds flow by 2023.

SU also says replacing the coke-fired boilers with cogeneration will reduce GHG emissions associated with steam production at Base Plant by 25%, and reduce sulfur dioxide and nitrogen oxide emissions by a respective 45% and 15%.

Subscribe for full text news in your inbox