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Nov 10

The True Costs of Phasing Out Coal

Calgary AB, McCarthy Tétrault Offices, 421 7 Ave SW #4000

Roundtable Luncheon with Brian Vaasjo and Brian McKenzie

Sponsored by:

A big part of Alberta’s plan to combat climate change is an accelerated phase out of coal-fired electricity. With the 2030 goal of phasing-out coal-fired power generation, there are many unknowns regarding the true cost of the process. Looking beyond the obvious costs of replacing infrastructure, this panel will discuss larger implications of the process, such as the risks of stranded assets and PPAs, as well as, means for ensuring the smooth phase-out of the resource.

Brian Vaasjo, President and Chief Executive Officer, Capital Power

Brian Vaasjo is the President and CEO of Capital Power and has been since the company’s initial public offering in July 2009. Under his leadership, Capital Power has become Alberta’s leading developer of new power generation and has successfully acquired and developed new renewable power projects in BC, Ontario, and the United States.

Brian possesses over 35 years of industry experience, which includes time as Executive Vice President of EPCOR and as President of EPCOR's Energy Division. At EPCOR, he was responsible for regional power generation (including clean coal initiatives), water operations and the growth of EPCOR‘s competitive power and water businesses across North America, as well as development and acquisition. He also was with the Enbridge Group of Companies for 19 years, during which time he played a substantial role in acquisitions, developments, and public offerings.

Brian was President of Capital Power Income L.P. from September 2005 until July 2009, and Chairman of the Board of its general partner from July 2009 to November 2011.

Brian holds an MBA from the University of Alberta where he also received his undergraduate degree. He attended the University of Western Ontario Executive Program and is a Fellow of the Society of Management Accountants.

Brian is a member of the Financial Executives Institute of Canada and serves on the University of Alberta School of Business Advisory Council. He is past Board Chair of the United Way, the Alberta Capital Region and the Alberta Shock Trauma Air Rescue Society (STARS). He also served on the Boards of the Alberta Society of Management Accountants and the Citadel Theatre. He and his wife Dawn live in Edmonton and have three children.

Brian McKenzie, Senior Manager, Infrastructure, Power & Utilities, Deloitte

Brian is a Senior Manager is Infrastructure, Power & Utilities practice in Canada. He works primarily with investors, public utilities, and Governments on a range of issues primarily in the power and utilities sector.  Assignments have included buy and sell-side M&A processes, greenfield and brownfield development, debt and equity financing, transaction execution, as well as policy advisory.

Prior to joining Deloitte, Brian worked for ArcLight Capital Partners, an energy-focused private equity fund based in Boston, MA, with over $12 billion in assets under management. During his time there, Brian played a lead role in underwriting and executing on transactions totaling over $2 billion across the power and utilities and midstream oil and gas sectors. Prior to ArcLight, Brian worked for Brookfield Renewable Power on their M&A team focused on investments in the hydro, wind, solar, transmission and distribution, and district energy sectors.     

Brian holds a MBA from the Tuck School of Business at Dartmouth College and a Masters in International Energy Policy from The Fletcher School at Tufts University where he was a Fulbright Scholar.

Education

· iBBA, Schulich School of Business, York University (Toronto, Canada)

· MBA, Tuck School of Business, Dartmouth College (Hanover, USA)

· MA, International Investment Law, Fletcher School, Tufts University (Boston, USA)

· Fulbright Scholar (Canada to U.S.)

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