Capital Power Buys Element Power to Add U.S. Wind, Solar Sites

Dec. 8 (Bloomberg) — Capital Power Corp., which owns more
than 2.6 gigawatts of generating capacity in North America,
agreed to buy Element Power US to increase its renewable energy
portfolio in the U.S.

Capital Power agreed to pay $69 million, including $52
million in assumed project financing debt, and will add 10 wind-and four solar-power sites with the acquisition, the Edmonton,
Alberta-based company said in a statement Dec. 4. The deal is
expected to close by the end of the year.

Included in the acquisition is a North Carolina solar farm
that’s supplying 15 megawatts of capacity to Duke Energy Corp.
and the 50-megawatt Macho Springs wind farm in New Mexico, which
has been operational since 2011 and provides electricity to
Tucson Electric Power under a 20-year contract.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Steven Frank

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