Business
Capital Power announces major expansion plans in Alberta and provides updates at annual Investor Day
Plans to develop new Capital Power Energy Centre with commercial operation targeted in 20...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\n\n\nPlans to develop new Capital Power Energy Centre with commercial\n operation targeted in 2017 to 2020 timeframe\n\n\nEDMONTON, Dec. 6, 2012 /CNW/ - Capital Power Corporation (TSX: CPX)\n (\"Capital Power\" or the \"Company\") is hosting its annual Investor Day\n event in Toronto today at the St. Andrew's Club and Conference Centre\n (150 King Street West, 16th floor). Registration starts at 8:00 a.m. followed by Company\n presentations beginning at 8:30 a.m. Members of the executive\n leadership team will provide updates on Capital Power's corporate\n developments, operations and construction projects, the outlook for its\n target markets and its corporate priorities for 2013.\n\n\n\"Alberta remains one of the fastest growing economies and power markets\n in North America and continues to be an attractive market in which to\n invest,\" said Brian Vaasjo, President and CEO of Capital Power. \"Today,\n we are announcing the first step of our expansion plans in Alberta with\n our joint venture agreement with ENMAX Corporation (\"ENMAX\") to build,\n own and operate the Shepard Energy Centre (\"Shepard\") with scheduled\n completion in early 2015. I'm pleased to announce further expansion in\n Alberta with our intention to develop the Capital Power Energy Centre\n (\"CPEC\"), a large natural gas facility that will utilize General\n Electric's (\"GE\") latest gas turbine technology. The CPEC is scheduled\n for completion in the 2017 to 2020 timeframe when additional generation\n in the province is required to meet growing demand and replace\n generation from the retirement of coal-fired units.\"\n\n\n\"Our investment in the Shepard facility provides a unique opportunity\n for contracted investment in Alberta,\" Mr. Vaasjo continued. \"The\n 20-year tolling agreement with ENMAX for a large portion of our output\n from the Shepard facility allows us to reposition our Alberta portfolio\n and significantly reduce our business risk by increasing our overall\n contracted position. In the 2017 to 2020 timeframe, we will be well\n positioned to meet the province's need for new generation with our\n investment in the CPEC.\"\n\n\n\"With the addition of these two large, efficient natural gas facilities,\n Capital Power will own the best fleet of power generation assets in\n Alberta with approximately 3,100 megawatts (\"MW\") of own...