Business
Capital Power reports strong third quarter 2025 results, advancing flexible generation¹ growth and contracting success
EDMONTON, Alberta, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) today r...
About this update from Capital Power Corporation
[{"type":"text","content":"Capital Power reports strong third quarter 2025 results, advancing flexible generation¹ growth and contracting successCFO Sandra Haskins announces retirement after 23 years of leadership and financial excellence\n\n\n\n EDMONTON, Alberta, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) today released financial results for the quarter ended September 30, 2025.\n \n\n\n Strategic highlights\n \n\n\n\n Executed a new long-term contract for Midland Cogeneration Venture (MCV)\n \n 2\n \n through to 2040, with improved economic terms, adding 10 years of incremental contracted revenue\n \n\n Commissioned 170 MW of battery storage in Ontario contracted through to 2047\n \n\n MCV entered into a term sheet with a leading colocation data centre developer for the potential development of a 250 MW data centre adjacent to the facility. The proposed project is subject to due diligence, execution of definitive agreements, and the requisite regulatory approvals\n \n\n\n\n\n\n Financial highlights\n \n\n\n\n Generated AFFO of $369 million and net cash flows from operating activities of $404 million\n \n\n Generated adjusted EBITDA of $477 million and net income of $153 million\n \n\n Negotiated a two-year, $600 million revolving credit facility maturing in 2027\n \n\n\n\n\n On October 29, 2025, Sandra Haskins, SVP Finance & CFO announced her plans to retire from her role on December 31, 2025 after a 23-year tenure. Sandra has played a pivotal role in shaping the strategic direction and successful growth of Capital Power. Scott Manson, Chief Accounting Officer, & Treasurer will transition to Interim SVP Finance & CFO. A search for a new SVP Finance & CFO is underway, and a successor will be announced in due course. Sandra will support a smooth leadership transition by remaining in an advisory capacity until the end of Q1 2026.\n \n\n “Our third quarter results reflect the continued execution of our strategy to strengthen our U.S. platform and expand our contracted cash flows,” said Avik Dey, President and Chief Executive Officer. “The MCV contract is a prime example of the critical role natural gas will continue to play in meeting the needs of grids. With scale, diversification, and unmatched operational and commercial excellence and a surging demand for reliable power, we are well p...