Capstone Infrastructure Corp., an Ontario-based open-ended trust that invests in power generation assets, has acquired 29 MW of operating wind projects – known as the Springwood, Whittington, Napier and Sumac Ridge wind facilities – from wpd Europe GmbH.
Capstone acquired the projects with a combination of equity and non-recourse project debt with MUFG Bank Ltd., Canada Branch, and Associated Bank N.A. The four facilities average 14 years remaining on their power purchase agreements and will be operated and maintained by Capstone’s in-house operations and maintenance team.
“These projects are an excellent addition to Capstone’s portfolio, with long-life contracts, located in close proximity to several of our existing wind farms which utilize the same Senvion MM92 wind turbines,” says David Eva, CEO of Capstone. “This acquisition furthers our strategy of leveraging Capstone’s operational and financing capabilities to responsibly grow the business.”
Capstone owns and operates approximately 570 MW net of installed capacity across 28 facilities in Canada, including wind, hydro, solar, biomass and natural gas power plants.
Photo: Capstone’s Goulais Wind Farm