Capstone Infrastructure Corp (TSX: CSE.PR.A) has acquired the Watford Wind Facility, a 10-megawatt facility located near Ontario’s Brooke-Alvinston municipality.
No financial terms were disclosed. The seller was Zephyr Farms Ltd, a Toronto-based owner and operator of wind farms.
Capstone, a Toronto-based power generation business, said the deal increases its Ontario wind assets to 194 megawatts.
Capstone was acquired in 2016 by iCON Infrastructure, a U.K. infrastructure investment firm, for about $480 million.
Capstone Infrastructure Corporation Announces the Acquisition of a 10 MW Wind Facility in Ontario
TORONTO, Feb. 04, 2019 (GLOBE NEWSWIRE) — Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the “Corporation” or “Capstone”) is pleased to announce its acquisition of the assets of the Watford Wind Facility (“Watford”) from Zephyr Farms Limited.
The 10 MW facility is located near the municipality of Brooke-Alvinston in Ontario and operates under a power purchase agreement that expires in 2032. The addition of Watford increases Capstone’s wind power generation to 194 megawatts in Ontario.
“We are really pleased to be adding Watford to our Ontario wind fleet as it complements our existing wind farms in the area and demonstrates Capstone’s ability to leverage our operational expertise to grow the business,” David Eva, Chief Executive Officer, Capstone Infrastructure.
About Capstone Infrastructure Corporation
Capstone’s mission is to provide investors with an attractive total return from responsibly managed long-term investments in power generation in North America. Capstone’s strategy is to develop, acquire and manage a portfolio of high quality power assets. Capstone owns and operates, approximately net 543 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.
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