Capital Power has received approval from its Board of Directors to proceed with the development of Whitla Wind 2. The 97 MW facility is expected in 2021. Capital Power will leverage its construction experience in Alberta and from Whitla Wind 1 to minimize contingencies and mitigate risks for Whitla Wind 2, which has an expected capital cost of $165 million.
Whitla Wind 2 will generate renewable energy credits to hedge against Capital Power’s carbon compliance costs from its Alberta thermal generation facilities. Prior to commercial operations, Capital Power will pursue renewable offtake contracts with commercial and industrial customers for Whitla Wind 2.
In Q3 2020, Capital Power will be applying to the Alberta Utilities Commission (AUC) requesting a time extension for the construction completion date of Whitla Wind 2 to December 31, 2021 to accommodate a revised construction timeline for the project.
Under the same application we will also be requesting to make minor amendments to the routing of some of the project’s collector lines and access roads. These changes are intended to minimize disturbance and reduce environmental impacts.
The community and economic benefits for the project would be similar to those for Whitla Wind 1, including a new and steady stream of municipal tax revenue, and annual lease revenues to landowners. Development of the project will generate many jobs for the construction portion and will create permanent employment opportunities, including one full-time facility site manager, as well as service and maintenance personnel.
Capital Power is committed to being a good neighbour. Some examples of our activities and support for local community groups include:
- Bow Island Foremost Victim Services Golf Tournament
- Bow Island Children’s Festival
- Forty Mile Regional FCSS
- Annual Foremost Rodeo
- Burdett 105th Anniversary Committee
- Foremost Municipal Library
- Bow Island Municipal Library
- Pleasant View Seniors Lodge
- Bow Island Minor Hockey Association
- Southern Alberta MedicAir Society HALO
- County of Forty Mile Food Bank
- Bow Island and District Health Foundation
Capital Power announces a 10-year tolling agreement extension for Decatur Energy Center
Capital Power (TSX: CPX) announced today the execution of a 10-year tolling agreement extension through December 2032 for Decatur Energy Center (Decatur Energy) with the current counterparty.
Capital Power reports solid second quarter 2020 results, announces a 6.8% dividend increase for its common shares, and the Strathmore Solar project
Capital Power (TSX: CPX) released financial results for the quarter ended June 30, 2020.
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.