TC Energy: Can Explosive Data Center Demand Become Its Most Powerful Growth Engine?

TC Energy’s third-quarter 2025 results reflect a balance of strategic growth initiatives and operational accomplishments alongside challenges inherent in the evolving energy landscape. The company has emphasized a strategic focus on safe, reliable operations and financial discipline, which has reportedly resulted in significant milestones such as a 5-year low in safety incident rates and an 8% year-over-year increase in comparable EBITDA to date. The development and placement of $8 billion in assets into service under budget highlight solid project execution capabilities. Positively, TC Energy announced an additional $700 million in growth projects, enhancing its total sanctioned project portfolio to $5.1 billion, driven by rising demand in power generation and data centers. Such strategic investments aim to leverage existing assets to minimize risk while maximizing growth opportunities. The company plans to continue pursuing high-quality, in-corridor expansions to maintain and potentially accelerate this momentum.