Buckthorn Wind is a 100.5 MW wind facility located approximately 60 miles south of Dallas in Erath County, Texas. The facility began commercial operations in January 2018 and operates in the liquid Electric Reliability Council of Texas (ERCOT) North region, which is situated between most of the wind generation in ERCOT-West and the Dallas load center. The ERCOT-North region has strong fundamentals with a high likelihood of baseload generation retirements and is one of the fastest growing regions in the United States. Buckthorn Wind has two offtake arrangements with an investment grade U.S. financial institution involving a 20-year contract for differences (CfD) for 55% of the generation output, and a 13-year financial hedge for the remaining 45% of the output. Capital Power acquired Buckthorn Wind from private investors in April 2020.
* Capital Power expects to assume the Operations Manager role in early 2021 to replace the current third-party Operations & Maintenance Services Agreement.
- Facility comprised of 29 Vestas wind turbines
- Strategically located in the ERCOT-North region near the Dallas load center allowing for a premium in pricing compared to ERCOT-West projects
At Capital Power, we contribute to the communities in which we operate with the aim of building a sustainable future for all. We engage our neighbours, consider their interests and build real relationships. We aim to source supplies and services locally for our operations, as well as hire from the community. We give back where we live and work by supporting local organizations and our employees’ community participation through our corporate giving programs.
The acquisition of Buckthorn Wind provided an opportunity to acquire a young renewables asset with a 15-year weighted average contract life remaining. The addition of this asset enhances our contracted cash flow profile and expands our renewables portfolio.
Brian Vaasjo, President and CEO
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Capital Power reports solid second quarter 2020 results, announces a 6.8% dividend increase for its common shares, and the Strathmore Solar project
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Capital Power announces a 6.8% dividend increase for its common shares and declares dividends for its Preference shares
The Board of Directors for Capital Power Corporation (TSX: CPX) (Capital Power) declared a dividend of $0.5125 per share on the outstanding common shares for the quarter ending September 30, 2020.