Capstone buys 29-MW wind quartet in Ontario

Wind farm in Ontario. Author: John Vetterli. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

January 11 (Renewables Now) - Capstone Infrastructure Corporation (TSE:CSE-A) said on Friday it has acquired a 29-MW portfolio of onshore wind parks in Ontario from Wpd Europe GmbH.

The portfolio in question consists of four wind farms -- namely Springwood, Whittington, Napier and Sumac Ridge. All of them are equipped with Senvion MM92 turbines and operate under long-term power purchase agreements (PPAs) with an average of 14 years remaining of the contract term. The power plants are located in close proximity to several of Capstone’s existing wind parks.

The Canadian clean energy investor has paid for the assets with a combination of equity and non-recourse project debt extended by the Canadian unit of Japan’s MUFG Bank and US-based Associated Bank NA. The value of its acquisition was not disclosed.

Capstone’s in-house operations and maintenance team will take care of the plants following the purchase.

“This acquisition furthers our strategy of leveraging Capstone’s operational and financing capabilities to responsibly grow the business,” said CEO David Eva.

Currently, the Canadian firm owns and operates around 570 MW power generation capacity, across Canada, including wind, hydro, solar, biomass, and natural gas power plants. 

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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