Capital Power Corp. has successfully completed the acquisition of Buckthorn Wind from private investors.
Buckthorn Wind is a 100.5 MW wind facility that is located in Erath County, approximately 60 miles south of Dallas. The facility began commercial operations in January 2018.
The equity purchase price will be in the range of $60 million to $69 million, pending the realization of future market performance. Capital Power is entering into a tax equity partnership with a tax equity balance of $68 million. The acquisition of Buckthorn Wind was previously announced and was 100% debt-financed.
In March, Capital Power’s Cardinal Point Wind project began commercial operations. The company received approximately $157 million in net tax equity financing from two U.S. financial institutions in exchange for Class A interests in a subsidiary of the company. The 150 MW Cardinal Point Wind facility, located in Illinois, is the third successful U.S. wind development project completed by Capital Power.
Capital Power owns over 6,400 MW of power generation capacity at 28 facilities across North America. Approximately 630 MW of owned generation capacity is in advanced development in Alberta.