| Type | Public |
|---|---|
| Traded as | TSX: CPX |
| Industry | Power Generation |
| Headquarters | Edmonton, Alberta, Canada |
| Area served | North America |
| Key people | Brian Vaasjo - President & CEO[1] |
| Employees | 1068 (2010)[2] |
| Website | www.capitalpower.com |
Capital Power Corporation (TSX: CPX) is an independent power-generation company based in Edmonton, Alberta, Canada. Capital Power develops, acquires, and operates power generation from a variety of energy sources. Capital Power owns more than 3,300 megawatts of power generation capacity at 16 facilities across North America.[3]
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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 Corporation was created through issuance of a 25% IPO by EPCOR Utilities in 2009 and has assets in Alberta, British Columbia, Ontario and the United States.
The decision to split EPCOR Utilities into two separate companies (one publicly owned by the City of Edmonton and the other by public shareholders) was made at a special meeting of Edmonton City Council held on April 17, 2009.
The creation of Capital Power Corporation and the transfer of assets from the City of Edmonton-owned utility EPCOR resulted in debate by local citizens group "Our Power".[4]
Capital Power and Capital Power Income L.P.
As of its Initial Public Offering in 2009, Capital Power L.P. held a 49% voting interest and 100% economic interest in CPI Investments Inc., a holding company owning approximately 29.6% of the limited partnership units of Capital Power Income L.P.(CPILP), and 100% of the shares of the general partner of CPILP.[5]. CPILP held ownership interests in 21 power generation assets in Canada and the United States.[6]
On November 7, 2011, Atlantic Power Corporation acquired Capital Power Income L.P (CPILP).[7] As part of the arrangement, Capital Power acquired CPILP's Roxboro and Southport plants in North Carolina.[8]
Genesee Generating Station - Warburg, AB
Clover Bar Energy Centre - Edmonton, AB
Clover Bar Landfill Gas Plant - Edmonton, AB
Island Generation - Campbell River, BC
Miller Creek - Pemberton, BC
Brown Lake - Prince Rupert, BC
Kingsbridge Wind Power Project - Goderich, ON
Bridgeport Energy - Connecticut
Tiverton - Rhode Island
Rumford - Maine
Southport - North Carolina
Roxboro - North Carolina
Capital Power has economic interests in the following facilities, which are operated by other entities:
Joffre - Red Deer, AB
Keephills 3 - Wabamun, AB
Port Dover and Nanticoke Wind Project:
Capital Power is proposing to develop, construct, and operate the Port Dover and Nanticoke Wind Project in Ontario.
K2 Wind Ontario:
Capital Power, in a limited partnership with Samsung Renewable Energy Inc., and Pattern Renewable Holdings Canada ULC, is proposing a wind project for the Township of Ashfield-Colborne-Wawanosh.[9]
Halkirk Wind:
On May 25, 2011, Capital Power acquired 100% of Halkirk I Wind Project LP and Halkirk I Wind Project Ltd from Greengate Power Corporation.[10] Capital Power will build, own, and operate the facility.