Capital Power to put online 142-MW wind farm in Canada in Nov

Nov 1, 2012 - Capital Power Corp's (TSE:CPX) 142-MW wind project in Canada's British Columbia province will become operational an the beginning of November, the company said when announcing its third-quarter results yesterday.

The Canadian power producer expects the Quality wind project's final costs to be 10% below the CAD-455-million (USD 455.1m/EUR 351.1m) budget and estimates that the wind farm will produce enough power to supply some 43,000 households. Local utility BC Hydro will buy the output of the facility under a 25-year power purchase agreement (PPA).

Capital Power added that its 150-MW Halkirk wind project in the province of Alberta is also slated for completion in the current quarter. The company's 105-MW Port Dover & Nantocoke wind project under construction in the Ontario province is to be completed in the fourth quarter of 2013, while the 270-MW K2 Ontario project, developed jointly with Pattern Renewable Holdings Canada and Samsung C&T's (SEO:000830) unit Samsung Renewable Energy, is to be finished in 2014.

Capital power's third-quarter net profit grew to CAD 39 million from CAD 15 million a year ago, although its revenues and other income declined to CAD 394 million from CAD 433 million. Power generation, excluding the acquired Sunsance PPA and CPILP plants, increased to 4,575 GWh from 4,221 GWh a year earlier.

(CAD 1 = USD 1.000/EUR 0.772)

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