Capital Power announces agreement to acquire 50.15% interest in Frederickson 1 Generating Station
Retrieved on:
Tuesday, October 10, 2023
Capital, Northwest Pipeline, Perception, TSX, Acquisition, Indigenous peoples, Accretion expense, Morgan Stanley, A-11, Depreciation, Atlantic Power Corporation, CPX, PPA, EBITDA, Capital Power Corporation, Facility, Bonneville Power Administration, Puget Sound Energy, Electricity, WECC, Legislation, Western Electricity Coordinating Council, CAD, Growth, SVP, Maintenance, PSE, Policy, Annual report, GE, Pacific Northwest, News, AP, Hand, Puget Sound region, Risk management, GAAP, Bank, Renewable energy, Bookkeeping
EDMONTON, Alberta, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital Power” or “the Company”) (TSX: CPX) announced today that it has executed an agreement to acquire a 50.15% ownership interest in the Frederickson 1 Generating Station (“Frederickson 1” or “the Facility”) from Atlantic Power & Utilities (“AP&U”) for US$100 million (CAD$137 million).
Key Points:
- EDMONTON, Alberta, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Capital Power Corporation (“Capital Power” or “the Company”) (TSX: CPX) announced today that it has executed an agreement to acquire a 50.15% ownership interest in the Frederickson 1 Generating Station (“Frederickson 1” or “the Facility”) from Atlantic Power & Utilities (“AP&U”) for US$100 million (CAD$137 million).
- Capital Power will finance the transaction using cash on hand and its credit facilities.
- Frederickson 1 is a 265 MW natural gas-fired combined-cycle generating facility in Pierce County, Washington.
- “We are pleased to acquire this high-quality facility in the Pacific Northwest,” said Avik Dey, President and CEO of Capital Power.