Capital Power Explained

Capital Power
Type:Public
Location City:Edmonton, Alberta
Location Country:Canada
Area Served:North America
Key People:Avik Dey (CEO)[1]
Industry:Power Generation
Services:Electricity
Revenue: CAD$ 2,929 million (2022)[2]
Operating Income: CAD$ 1,353 million (2022)
Net Income: CAD$ 128 million (2022)
Assets: CAD$ 5,393 million (2022)
Num Employees:813 (as of December 31, 2018)[3]

Capital Power is a North American independent power generation company based in Edmonton, Alberta, Canada.[4] [5] It develops, acquires, owns and operates power generation facilities using a variety of energy sources.

History

The company history dates back to Edmonton Electric Lighting and Power Company formed in 1891. Previously named Edmonton Power, then EPCOR Generation (a division of EPCOR Utilities), Capital Power was created through issuance of a 25 percent IPO by EPCOR Utilities in 2009.[6]

The Clover Bar Landfill Gas facility was commissioned in 2005.[7] The facility utilizes landfill gas from the City of Edmonton's Waste Management Centre and output from the facility is sold to the City of Edmonton.[8]

In October 2010, Capital Power acquired the Island Generation Facility, a 275 megawatt (MW), gas-fired combined cycle power plant at Campbell River, British Columbia, from Kelson Canada.[9] [10]

In September 2011, Capital Power and TransAlta completed the 495 MW (gross) Keephills 3 generating facility and announced the commencement of commercial operation at the facility.[11]

In November 2011, Atlantic Power Corporation acquired Capital Power Income.[12] [13] As part of the arrangement, Capital Power acquired CPILP's Roxboro and Southport plants in North Carolina.[12]

In October 2012, Innergex Renewable Energy Inc. acquired Capital Power's Brown Lake, B.C., and Miller Creek, B.C. hydro facilities.[14] [15]

In November 2012, Capital Power's 142 MW Quality Wind project, located in British Columbia, began commercial operation.[16] [17]

In December 2012, Capital Power and ENMAX Corporation announced the signing of a joint venture agreement to build, own and operate the 800 MW Shepard Energy Centre in Calgary.[18]

In November 2013, Emera Inc. acquired Capital Power's facilities in Connecticut: Bridgeport, Rhode Island: Tiverton, and Maine: Rumford, including certain emissions credits.[19] These facilities were subsequently sold by Emera to the Carlyle Group.

In February 2017, Capital Power entered into an agreement to acquire the thermal power business of Veresen, consisting of two gas-fired generation facilities and two waste heat assets.[20] [21] [22]

In March 2017, Capital Power and ENMAX Corporation announced that the Shepard Energy Centre was chosen as the test site for the natural gas track of the $20 million NRG COSIA Carbon XPRIZE, a global competition to develop breakthrough technologies that convert carbon dioxide (CO2) into valuable products. Shepard Energy Centre will host the new Alberta Carbon Conversion Technology Centre, as well as provide the flue gas for testing during the NRG COSIA Carbon XPRIZE and for future innovators.

In June 2017, Capital Power's Bloom Wind project, located in Kansas began commercial operation.[23] [24]

In October 2023, Capital Power announced that it would acquire 50.15 percent stake in the Frederickson 1 Generating Station, a natural gas-fired combined-cycle generation facility located in Pierce County, Washington.[25] The acquistion was completed in December 2023.[26]

In November 2023, Capital Power announced that it would acquire two natural gas-fired generation facilities: the 1,092 MW Harquahala facility in Arizona, and the 1,062 MW La Paloma facility in California for $1.1 billion.[27] Both acquisitions were completed in February 2024.[27]

Operations

In operation

Under construction

In development

See also

External links

Notes and References

  1. Web site: Capital Power Announces Appointment of Avik Dey as President and Chief Executive Officer, Brian Vaasjo to Retire. Capital Power.
  2. Web site: Capital Power reports fourth quarter and year-end 2022 results. Capital Power.
  3. Web site: Capital Power 2018 Annual Information Form. System for Electronic Document Analysis and Retrieval. SEDAR. February 19, 2019. 45. Annual Information Form. February 19, 2019.
  4. Web site: Capital Power's natural gas turbine expansion in Windsor approved . Windsor Star.
  5. Web site: Feds announce $500M contract with Edmonton company for green electricity. February 3, 2023. Edmonton.
  6. Web site: Capital Power C$500mln IPO targets global investors. June 29, 2009. Reuters.
  7. Web site: Burton . Dentons-Courtney R. . 2022-06-14 . Things you need to know about Canada's growing renewable natural gas utilization . 2023-12-21 . Lexology . en.
  8. Web site: Edmonton's Clover Bar landfill still releasing gas Edmonton Journal.
  9. Web site: Capital Power buys B.C. electricity plant. August 3, 2010. CBC News.
  10. Web site: Capital Power To Buy 275MW Gas-fired Plant In British Columbia - NS Energy.
  11. Web site: TransAlta Plays Defense with Coal Out, Renewables In. February 1, 2016. POWER Magazine.
  12. Web site: Atlantic Power purchases Capital Power Income. Clarion Energy Content. Directors. June 20, 2011.
  13. Web site: Atlantic Power to buy Capital Power Income for C$1.10 billion. June 20, 2011. Reuters.
  14. Web site: Innergex acquiring Brown Lake and Miller Creek hydro facilities in B.C.. Anthony. Capkun. June 22, 2012. Electrical Business.
  15. Web site: Innergex buys Miller Creek run-of-river IPP from Capital Power. June 14, 2012. Pique Newsmagazine.
  16. Web site: Alberta Firm to Build B.C. Wind Project. March 17, 2010. POWER Magazine.
  17. Web site: Quality Wind Farm, Canada. December 9, 2021.
  18. Web site: Shepard Energy Centre, powered by natural gas, fully operational, Enmax says. March 11, 2015. CBC News. live. https://web.archive.org/web/20150312112059/http://www.cbc.ca:80/news/canada/calgary/shepard-energy-centre-powered-by-natural-gas-fully-operational-enmax-says-1.2990863 . 2015-03-12 .
  19. Web site: Capital Power completes sale of its New England assets. News Release. System for Electronic Document Analysis and Retrieval (SEDAR). June 16, 2014.
  20. Web site: Veresen Inc. selling power generation business Calgary Herald.
  21. Web site: BRIEF-Capital Power closes 284 megawatt contracted thermal portfolio acquisition from Veresen. April 13, 2017. www.reuters.com.
  22. Web site: Veresen to sell power generation business for $1.18bn. February 21, 2017.
  23. Web site: Capital Power Flips The Switch On Bloom Wind In Kansas. Betsy. Lillian. June 13, 2017. North American Windpower.
  24. Web site: Capital Power grows contracted power generation close to 1GW - NS Energy . 2023-12-21 . en-US.
  25. Web site: Capital Power to buy stake in Washington gas-fired power plant.
  26. Web site: Capital Power completes acquisition of 50.15% interest in the Frederickson 1 Generating Station.
  27. Web site: 1,092 MW Arizona natural gas plant changes hands . Sean . Wolfe . 19 February 2024 . Power Engineering.
  28. Web site: Waste Heat Energy Recovery For On-Site Power Engineered Systems Magazine . 2023-12-21 . www.esmagazine.com . en.
  29. Web site: Arlington Valley . 2023-12-21 . Capital Power . en-CA.
  30. Web site: 2021-12-23 . Arlington Valley Energy Facility, US . 2023-12-21 . Power Technology . en-US.
  31. Web site: 2022-02-21 . Power plant profile: Beaufort Solar PV Park, US . 2023-12-21 . Power Technology . en-US.
  32. Web site: 2021-12-15 . Buckthorn Wind Farm, US . 2023-12-21 . Power Technology . en-US.
  33. Web site: 2021-12-06 . Bloom Wind Farm, US . 2023-12-21 . Power Technology . en-US.
  34. Web site: 2021-12-08 . Cardinal Point Wind Farm, US . 2023-12-21 . Power Technology . en-US.
  35. Web site: Clover Bar Energy Centre . 2023-12-21 . Capital Power . en-CA.
  36. Web site: Boothby . Lauren . Edmonton's Clover Bar landfill still not capped and releasing gas after 13 years, new capture technology planned . Edmonton Journal . November 25, 2022 . Postmedia Network . May 6, 2024 . May 6, 2024 . https://web.archive.org/web/20240506185125/https://edmontonjournal.com/news/local-news/edmontons-clover-bar-landfill-still-not-capped-and-releasing-gas-after-13-years-new-capture-technology-planned . live.
  37. Web site: Clydesdale Solar Project . 2023-12-21 . majorprojects.alberta.ca . en.
  38. Web site: 2021-12-16 . Decatur Energy Center, US . 2023-12-21 . Power Technology . en-US.
  39. Web site: 2023-04-22 . Power plant profile: Genesee Generating Station 1 & 2, Canada . 2023-12-21 . Power Technology . en-US.
  40. Web site: 2022-01-10 . Power plant profile: Genesee Generating Station 3, Canada . 2023-12-21 . Power Technology . en-US.
  41. Web site: 2021-12-17 . Goreway Power Station, Canada . 2023-12-21 . Power Technology . en-US.
  42. Web site: Halkirk Wind Project . 2023-12-21 . Power Technology . en-US.
  43. Web site: 2022-01-21 . Power plant profile: Island Generation Facility, Canada . 2023-12-21 . Power Technology . en-US.
  44. Web site: 2022-01-11 . Power plant profile: Joffre Cogeneration Plant, Canada . 2023-12-21 . Power Technology . en-US.
  45. Web site: 2022-02-07 . Power plant profile: Kingsbridge, Canada . 2023-12-21 . Power Technology . en-US.
  46. Web site: 2022-01-17 . Power plant profile: Macho Springs Wind Energy Project, US . 2023-12-21 . Power Technology . en-US.
  47. Web site: 2022-07-13 . Midland Cogeneration pricetag: $894 million . 2023-12-21 . Midland Daily News . en-US.
  48. Web site: North Dakota's New Frontier Wind project now operational . 2023-12-21 . Windpower Engineering & Development . en-US.
  49. Web site: 2021-12-15 . New Frontier Wind Energy Project, US . 2023-12-21 . Power Technology . en-US.
  50. Web site: 2021-12-13 . Port Dover and Nanticoke Wind Project, Canada . 2023-12-21 . Power Technology . en-US.
  51. Web site: 2021-12-09 . Quality Wind Farm, Canada . 2023-12-21 . Power Technology . en-US.
  52. Web site: Canada's waste-to-power plant is online - UPI.com . 2023-12-21 . UPI . en.
  53. Web site: 2021-12-20 . Shepard Energy Centre, Canada . 2023-12-21 . Power Technology . en-US.
  54. Web site: Strathmore Solar Farm . 2023-12-21 . majorprojects.alberta.ca . en.
  55. Web site: Whitla Wind Project, Forty Mile County, Alberta, Canada . 2023-12-21 . en-US.
  56. Web site: 2021-12-15 . Whitla Wind Project, Canada . 2023-12-21 . Power Technology . en-US.
  57. Web site: York Energy Centre . 2023-12-21 . Capital Power . en-CA.
  58. Web site: Walton . Rod . 2021-10-11 . Capital Power converting coal-fired Genesee units to combined cycle gas-fired technologies by 2024 . 2023-12-21 . Power Engineering . en-US.
  59. Web site: Power plant profile: Bear Branch Solar PV Park, US. February 1, 2022.
  60. Web site: Goreway - Battery Energy Storage System . 2023-12-21 . Capital Power . en-CA.
  61. Web site: Goreway Power Station - Upgrade Project . 2023-12-21 . Capital Power . en-CA.
  62. Web site: 2022-01-13 . Power plant profile: Halkirk 2 Wind Power Project, Canada . 2023-12-21 . Power Technology . en-US.

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