Capital Power Corporation

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Capital Power Corporation
Type Public
Traded as TSXCPX
Industry Power Generation
Headquarters Edmonton, Alberta, Canada
Area served North America
Services Electricity
Revenue Increase CAD$ 10.02 billion
Operating income Increase CAD$ 3.07 billion
Net income Increase CAD$ 4.02 billion
Total assets Increase CAD$ 2.07 billion
Employees 714 (as of December 31, 2013)[1]
Website www.capitalpower.com

Capital Power Corporation 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 2,600 megawatts of power generation capacity at 14 facilities across North America.[2]

History[edit]

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 sole shareholder, City of Edmonton) 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".[3]

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.[4] CPILP held ownership interests in 21 power generation assets in Canada and the United States.[5]

On November 7, 2011, Atlantic Power Corporation acquired Capital Power Income L.P (CPILP).[6] As part of the arrangement, Capital Power acquired CPILP's Roxboro and Southport plants in North Carolina.[7]

Sale of Hydro Facilities
On October 12, 2012, Innergex Renewable Energy Inc. acquired Capital Power's Brown Lake, B.C., and Miller Creek, B.C. hydro facilities.[8]

Sale of New England Facilities
On November 19, 2013, Emera Inc. acquired Capital Power's Bridgeport, Tiverton, and Rumford facilities, including certain emissions credits.[9]

Facilities[edit]

Alberta[edit]

  • Genesee Generating Station - Warburg, AB
  • Clover Bar Energy Centre - Edmonton, AB
  • Clover Bar Landfill Gas Plant - Edmonton, AB
  • Halkirk Wind Project - Halkirk, AB[10]

British Columbia[edit]

Ontario[edit]

United States[edit]

  • Southport - North Carolina[13]
  • Roxboro - North Carolina[13]

Economic interests in Facilities[edit]

Capital Power has economic interests in the following facilities, which are operated by other entities:

  • Joffre - Red Deer, AB
  • Keephills 3 - Wabamun, AB

Projects in Development or Construction[edit]

K2 Wind Ontario[edit]

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.[14]

Genesee 4 & 5 (formerly Capital Power Energy Centre)[edit]

Capital Power is planning to develop the new natural gas-powered Capital Power Energy Centre in Alberta.[15] On December 5, 2013, Capital Power entered into a joint-venture agreement with ENMAX Corporation to develop, construct, own and operate the project, which was renamed to Genesee 4 & 5.[16]

Shepard Energy[edit]

In December 2012, Capital Power entered into a joint-venture agreement with ENMAX Corporation to build, own, and operate the natural gas-powered Shepard Energy Centre in Calgary, Alberta.[17]

See also[edit]

References[edit]

  1. ^ "Capital Power 2013 Annual Information Form" (Annual Information Form). System for Electronic Document Analysis and Retrieval. SEDAR. March 10, 2014. p. 30. Retrieved June 16, 2014. 
  2. ^ "Capital Power Corporation Management's Discussion and Analysis". Capital Power Corporation Management's Discussion and Analysis. System for Electronic Document Analysis and Retrieval (SEDAR). Retrieved June 16, 2014. 
  3. ^ "Our Power Citizens Group". Our Power Citizens Group website. Retrieved March 10, 2011. 
  4. ^ "Corporate Structure". Annual Information Form - filed on SEDAR. System for Electronic Document Analysis and Retrieveal (SEDAR). Retrieved March 11, 2011. 
  5. ^ "Corporate Structure". Annual Information Form. System for Electronic Document Analysis and Retrieveal (SEDAR). 
  6. ^ "Atlantic Power Corporation and Capital Power Income L.P. Announce Close of Acquisition of Capital Power Income L.P.". News Release. System for Electronic Document Analysis and Retrieval (SEDAR). 
  7. ^ "Capital Power confirms strategic direction". News Release. System for Electronic Document Analysis and Retrieveal (SEDAR). 
  8. ^ "Annual Information Form for the year ended December 31, 2012" (Annual Information Form). System for Electronic Document Analysis and Retrieval (SEDAR). SEDAR. March 14, 2013. p. 12. Retrieved June 16, 2014. 
  9. ^ "Capital Power completes sale of its New England assets". News Release. System for Electronic Document Analysis and Retrieval (SEDAR). Retrieved June 16, 2014. 
  10. ^ "Capital Power announces major expansion plans in Alberta". News Release. System for Electronic Document Analysis and Retrieval (SEDAR). Retrieved January 14, 2013. 
  11. ^ "Capital Power reports third quarter 2012 results and announces Quality Wind set to commence commercial operations". System for Electronic Document Analysis and Retrieval (SEDAR). Retrieved January 14, 2013. 
  12. ^ "Capital Power reports fourth quarter and strong year-end 2013 results" (News Release). System for Electronic Document Analysis and Retrieval (SEDAR. SEDAR. February 28, 2014. p. 3. Retrieved June 16, 2014. 
  13. ^ a b "Capital Power reports fourth quarter and year-end 2011 results". SEDAR. "Closing of Atlantic Power Corporation's acquisition of CPILP": System for Electronic Document Analysis and Retrieval (SEDAR. March 13, 2012. p. 3. Retrieved June 16, 2014. 
  14. ^ "Capital Power, Samsung and Pattern to pursue development of Ontario wind project". News Release. System for Electronic Document Analysis and Retrieveal (SEDAR). Retrieved January 14, 2013. 
  15. ^ "Capital Power announces major expansion plans in Alberta and provides updates at annual Investor Day". News Release. System for Electronic Document Analysis and Retrieveal (SEDAR). Retrieved January 14, 2013. 
  16. ^ "Annual Information Form - Capital Power Corporation - for the year ended December 31, 2013" (Annual Information Form). System for Electronic Document Analysis and Retrieval (SEDAR). Company History: SEDAR. March 10, 2014. p. 13. Retrieved June 16, 2014. 
  17. ^ "Capital Power purchases fifty percent interest in the Shepard Energy Centre". News Release. System for Electronic Document Analysis and Retrieveal (SEDAR). Retrieved January 14, 2013. 

External links[edit]