We are Canada’s largest private sector power company, with interests in 10,900 MW of generating capacity, one-third of which comes from emission-less sources including nuclear, hydro, wind and solar. Our diverse portfolio of assets is comprised of 19 power generation facilities that are either underpinned by long-term contracts, are on the low end of the cost curve, or are otherwise supported by stable revenue streams. With facilities located in Alberta, eastern Canada, New England, Arizona and New York, our focus on maximizing earnings from this critical infrastructure is relentless. Our experience in these regions positions us well for the future, as new opportunities arise to keep pace with demand growth in these markets through the replacement of older facilities with new, less carbon-intense forms of electricity generation.
We have critical mass in our core North American power markets and are well positioned to capture opportunities in the future.
Our Energy business performed well in 2014, generating more than $1.3 billion in EBITDA. Strong performance of the Bruce Power nuclear facility in Ontario, where all eight reactors are in operation and providing approximately one-third of the province’s power supply, was coupled with similarly strong performance from our U.S.-based fleet. We also expanded our portfolio of renewable energy sources with four additional solar generation facilities in Ontario.
The $1-billion Napanee Generating Station under development in Ontario obtained necessary permits for construction to commence in January 2015. This highly efficient, combined-cycle natural-gas-fired power plant will be located in the town of Greater Napanee and will be capable of generating 900 MW under a 20-year clean energy supply contract with the IESO.
Our Energy business performed well in 2014, generating more than $1.3 billion in EBITDA thanks to the strong performance of the Bruce Power nuclear facility in Ontario and our U.S.-based fleet of power generation facilities.
One-third of the power we generate comes from emission-less sources.
Alberta continues to be an attractive area for long-term investment with growing demand for power and more than 800 MW of coal-fired generation expected to come offline around the end of the decade as a portion of the coal fleet reaches the end of its useful life. We believe this will present opportunities to add new and replacement capacity in the latter half of the decade.
We will continue to explore further opportunities for growth in markets where we have an established presence and a competitive advantage, either through development or acquisition. This includes consideration of further nuclear refurbishments in Ontario, capacity additions or replacements in the northeastern U.S. markets and consideration of new power generation facilities in Mexico where we have an established and growing corporate presence as this market continues to mature and evolve.