Capital Power announces closing of the 284 megawatt contracted thermal portfolio acquisition from Veresen Inc.
EDMONTON, Alberta – Capital Power Corporation (Capital Power or the Company) (TSX: CPX) announced today that it has successfully completed the acquisition of Veresen Inc.’s two gas-fired generation facilities in Ontario.
“The addition of these high-quality natural gas facilities that are under long-term contracts will enhance our contracted cash flow profile and diversify our existing asset fleet,” said Capital Power’s President and CEO, Brian Vaasjo.
The acquisition, announced on February 21, 2017, also included two waste heat facilities with 10 MW of combined capacity that are located on Spectra’s BC natural gas pipeline. This portion of the acquisition remains subject to the satisfaction of closing conditions, the work for which is continuing.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns approximately 3,500 megawatts of power generation capacity at 20 facilities across North America. More than 700 megawatts of owned generation capacity are in advanced development in Alberta and under construction in Kansas.