iCON-backed Capstone buys Ontario operating wind projects

Capstone Infrastructure Corp, a portfolio company of iCON Infrastructure, has acquired 29 megawatts of operating wind projects in Ontario, known as the Springwood, Whittington, Napier and Sumac Ridge wind facilities, from wpd Europe.

Capstone Infrastructure Corp, a portfolio company of iCON Infrastructure, has acquired 29 megawatts of operating wind projects in Ontario, known as the Springwood, Whittington, Napier and Sumac Ridge wind facilities, from wpd Europe. No financial terms were disclosed. Based in Toronto, Capstone is a power producer.

PRESS RELEASE

TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE) — Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the “Corporation” or “Capstone”) is pleased to announce its acquisition of 29 MW of operating wind projects, known as the Springwood, Whittington, Napier and Sumac Ridge wind facilities from wpd Europe GmbH (“wpd”).
Capstone acquired the projects with a combination of equity and non-recourse project debt with MUFG Bank, Ltd., Canada Branch and Associated Bank, N.A. The four facilities average 14 years remaining on their power purchase agreements and will be operated and maintained by Capstone’s in-house operations and maintenance team.

“These projects are an excellent addition to Capstone’s portfolio, with long-life contracts, located in close proximity to several of our existing wind farms which utilize the same Senvion MM92 wind turbines. This acquisition furthers our strategy of leveraging Capstone’s operational and financing capabilities to responsibly grow the business,” David Eva, Chief Executive Officer, Capstone.

About Capstone Infrastructure Corporation
Capstone’s mission is to power society, protect the environment, contribute to communities, and create value for its shareholders. Capstone owns and operates approximately 570 MW net of installed capacity across 28 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.