EDMONTON, Alberta – Capital Power Corporation (“Capital Power”) (TSX: CPX) announced today it has completed the transaction to acquire TransAlta Corporation’s (“TransAlta”) 50% share of the Genesee 3 generation unit (“G3”) and divest its 50% share of the Keephills 3 generation unit (“K3”) to TransAlta. G3 is now fully owned and operated by Capital Power and K3 is fully owned and operated by TransAlta. The transaction was originally announced on August 2, 2019.
G3 and K3 are the only supercritical coal facilities in Alberta, with a net capacity of 466 megawatts (“MW”) and 463 MW, respectively. Previously, both generating units were owned and operated under 50/50 Joint Venture Agreements between Capital Power and TransAlta.
About Capital Power
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, owns, and operates power generation facilities using a variety of energy sources. Capital Power owns nearly 6,000 megawatts (MW) of power generation capacity at 25 facilities across North America. Approximately 900 MW of owned generation capacity is in advanced development in Alberta and Illinois.