Capital Power announces second quarter 2025 results

About this update from Capital Power Corporation

[{"type":"text","content":"Capital Power announces second quarter 2025 resultsThe Company expands and enhances its US flexible generation portfolio with its largest acquisition to date\n\n\n\n EDMONTON, Alberta, July 30, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) today released financial results for the quarter ended June 30, 2025.\n \n\n\n Highlights\n \n\n\n\n Completed previously announced acquisition of the Hummel and Rolling Hills facilities in the PJM\n \n 1\n \n market for ~$3.0 billion\n \n 2\n \n (US $2.2 billion), adding ~2.2 GW of capacity to its U.S. flexible generation\n \n 3\n \n portfolio, the largest acquisition in the Company’s history\n \n\n Increased its annual common share dividend, for the 12\n \n th\n \n consecutive year, by 6%\n \n\n Executed a ~$1.7 billion\n \n 4\n \n (US $1.2 billion) inaugural US private offering of senior notes and obtained a third credit rating with Fitch assigning a BBB- rating\n \n\n Raised $667 million of equity capital consisting of an upsized bought deal offering of common shares, for total gross proceeds of $517 million, and a concurrent private placement of $150 million with Alberta Investment Management Corporation (AIMCo)\n \n\n Reached commercial operation of the 40MW uprate at Goreway and continued to advance four other long-term contracted projects in Ontario with 310MW of total capacity\n \n\n Started construction on two additional solar projects in North Carolina, with commercial operation expected between Q4 2026 and Q1 2027\n \n\n Generated AFFO of $235 million and net cash flows from operating activities of $143 million\n \n\n Generated adjusted EBITDA of $322 million and a net loss of $131 million\n \n\n\n “The completion of our PJM acquisition marks an extraordinary milestone for Capital Power as it underscores our ability to execute on our growth strategy and reaffirms our leadership in North American flexible generation. By expanding into North America’s largest and most liquid power market, we have added approximately 2.2 GW of flexible generation capacity. The Hummel Station and Rolling Hills facilities are strategically positioned as young and highly efficient assets with significant commercial optimization potential that enjoy access to low-cost fuel\" said Avik Dey, President and CEO of Capital Power. “This transaction enhances the positi...

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