Capital Power -President and CEO, Brian Vaasjo
President and CEO, Brian Vaasjo
Source: Globe and Mail
  • Capital Power has completed the acquisition of 100 per cent of its equity interests in the CXA LA Paloma LLC
  • La Paloma is the owner of the La Paloma natural gas-fired facility in Kern County, California
  • The company is also expected to close its 100 per cent acquisition of New Harquahala Generation Company LLC shortly
  • Shares of Capital Power are up 0.36 per cent to C$36.07 as of 11:21 am ET

Capital Power (TSX:CPX) has officially completed the acquisition of 100 per cent of its equity interests in the CXA LA Paloma LLC, which is the owner of the La Paloma natural gas-fired facility in Kern County, California.

In a news release, the Edmonton-based company stated it also completed its 100 per cent acquisition of the equity interests in New Harquahala Generation Company, LLC and that the closing of that acquisition is expected shortly.

Harquahala owns the 1,092 MW Harquahala natural gas-fired generation facility in Maricopa County, Arizona. The Harquahala closing is anticipated in conjunction with the closing of approximately US$442 million of combined term loans, letter of credit loans and revolving loans.

Located in the U.S. WECC region, the acquisitions are strategically positioned within their markets.

The company intends to leverage its deep knowledge and experience in plant operations to commercially optimize these assets and help drive long-term value as part of its broader fleet.

Capital Power is a Canada-based growth-oriented power producer company that develops, acquires, owns and operates renewable and thermal power generation facilities and manages its related electricity and natural gas portfolios.

The company is involved in the operation of electrical generation facilities within Canada and the United States.

Shares of Capital Power are up 0.36 per cent to C$36.07 as of 11:21 am ET.

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