TC Energy to advance $29bln of secured projects over next 5 years

TC Energy

TC Energy, a top midstream company in North America, announced this Wednesday during its investor day it will advance up to $29 billion in commercially secured projects over the next five years.

Firstly, the company held a virtual conference this Wednesday in which it provided an overlook for the company over the next few years. At the conference, it highlighted its ten sustainability commitments. In addition, it said it has vast potential for natural gas pipelines; liquids pipelines, power and storage projects in Canada, the US, and Mexico.

Moreover, the company’s vision is to become the premier energy infrastructure company in North America, according to François Poirier, CEO. He remarked that the $29 billion in secured projects would expand the company’s asset footprint across North America; generate attractive long-term returns for shareholders.

In addition, within the $29 billion portfolio, $7 billion represent new projects that will receive sanction by year’s end. “This capital program, combined with the strong performance of our existing assets, would result in average annual growth in EBITDA of five percent through 2026.” The company said in a statement.

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TC Energy committed to decarbonized operations

Furthermore, and due to its strong performance; it will increase its common share dividend at an annual rate of three to five percent. About the matter, Poirier remarked. “Our strong and growing cash flow from operations will allow us to largely fund our $29 billion secured capital program and pay a sustainable dividend.”

He also said. “We will allocate capital in a manner that maximizes growth in earnings, cash flow, and dividends per share and delivers superior long-term returns to our shareholders.”

On the other hand, the company also intends to capture growth in new opportunities that would add to its EBITDA outlook. It also highlighted its commitment to clean operations; to modernizing its systems and assets to decarbonize its operations and infrastructure further.

Consequently, the company will advance several renewable energy projects of pumped hydro storage, hydrogen, and carbon capture utilization and storage. Finally, Poirier underlined that the company continues to the life-extension project on Bruce Power’s program in Ontario.

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