Business
Capital Power to acquire two New England power plants
Feb. 17, 2011 (Canada NewsWire Group) -- U.S. Northeast plants expected to be accretive to C...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\n Feb. 17, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nU.S. Northeast plants expected to be accretive to Company's earnings\n\n\nEDMONTON, Feb. 17 /CNW/ - Capital Power Corporation (TSX: CPX) (Capital\n Power or the Company) today announced that it has entered into an\n agreement to acquire two generating facilities from Brick Power\n Holdings LLC (Brick Power), one facility located in Tiverton, Rhode\n Island (Tiverton) and one facility located in Rumford, Maine (Rumford).\n Both plants are natural gas-fired combined cycle power generation\n facilities serving the New England region in the U.S. Northeast, and\n have a maximum combined capacity of 549 megawatts (MW).\n\n\n"Capital Power's business and financial strategies are designed to\n deliver disciplined growth as we aim to reach 10,000 megawatts of\n assets by 2020 on a consistently accretive basis," said Capital Power's\n President and CEO, Brian Vaasjo. "The acquisition of Tiverton and\n Rumford demonstrates our commitment to the strategy. They provide\n Capital Power with the foundation for a networked hub of assets in the\n U.S. Northeast, one of our target markets; they help us sustain a\n balanced portfolio of contracted and merchant assets; and as relatively\n young, highly efficient gas-fired plants that use proven technologies,\n they fit our technology and operating focus."\n\n\nThe buyer under the Share Purchase Agreement (SPA) for the transaction\n is a subsidiary of Capital Powe...