Business
Capital Power advances growth strategy in North America and provides 2010 outlook at Investor Day event
Capital Power advances growth strategy in North America and provides 2010 outlook at Investor Day...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\nDec. 3, 2009 (Canada NewsWire Group) -- EDMONTON, Dec. 3 /CNW/ -- Capital Power Corporation (TSX: CPX) (Capital Power) will be hosting its first annual Investor Day event in Toronto at the TMX Broadcast Centre starting at 9:00 am Eastern Time today, where its executive leadership team will provide investors with a comprehensive review of its operations, strategy, and outlook. The event can be accessed through a webcast that will be available on the company's website.\"Capital Power is moving ahead with its strategy of growing its business through a mix of long-term contracted and merchant assets,\" said Brian Vaasjo, President and CEO of Capital Power. \"We have a strong pipeline of ongoing development projects that are being executed by experienced and successful teams. In addition, with our strong balance sheet, we're well positioned to respond to emerging opportunities in North America's power markets.\"Corporate UpdatesCapital Power is announcing progress on new power generation projects in Canada, including advances on 243 megawatts (MW) of gas fired power and over 500 MWs of proposed wind generation. These projects include:The final 100 MW unit at the Clover Bar Energy Centre is currently in commissioning, which is expected to bring the 243 MW facility to full capacity in December 2009. Months ahead of schedule and $5 million lower than earlier estimates. The facility includes a 43.3 MW General Electric LM 6000 turbine (COD, March 2008) and two 100 MW LMS 100 turbines (COD, September 2009 and December 2009).Up to 380 MWs of wind power has been bid into the Ontario Power Authority's Feed-in-Tariff (FIT) program from two proposed projects: the 270 MW Kingsbridge 2 Wind Power Project in the Township of Ashfield-Colborne-Wawanosh, and the 100 to 110 MW Port Dover and Nanticoke Wind Project (PDN). Capital Power acquired the PDN wind project from Tribute Resources Inc (TSX-V: TRB) in late November.The 142 MW Quality Wind Project has advanced to the next stage of the BC Hydro Clean Power Call. BC Hydro announced that 47 proposals are continuing in the process and may qualify for an electricity purchase agreement.Capital Power continues to assess business opportunities in the both the United States and Canada.Outlook for 2010Earnings per share (EPS) in 2010 is expected to be roughly in line with 2009 (annualized) EPS exclu...