Capital Power Corporation is an independent power generation company based in Edmonton, Alberta, Canada. Capital Power develops, acquires, and operates power generation from a variety of energy sources. Capital Power owns more than 2,600 megawatts of power generation capacity at 14 facilities across North America.
The company history dates back to Edmonton Electric Lighting and Power Company formed in 1891. Previously named Edmonton Power, then EPCOR Generation (a division of EPCOR Utilities), Capital Power Corporation was created through issuance of a 25% IPO by EPCOR Utilities in 2009 and has assets in Alberta, British Columbia, Ontario and the United States.
The decision to split EPCOR Utilities into two separate companies (one publicly owned by the sole shareholder, City of Edmonton) was made at a special meeting of Edmonton City Council held on April 17, 2009.
The creation of Capital Power Corporation and the transfer of assets from the City of Edmonton-owned utility EPCOR resulted in debate by local citizens group "Our Power".
Capital Power and Capital Power Income L.P.
As of its Initial Public Offering in 2009, Capital Power L.P. held a 49% voting interest and 100% economic interest in CPI Investments Inc., a holding company owning approximately 29.6% of the limited partnership units of Capital Power Income L.P.(CPILP), and 100% of the shares of the general partner of CPILP. CPILP held ownership interests in 21 power generation assets in Canada and the United States.
On November 7, 2011, Atlantic Power Corporation acquired Capital Power Income L.P (CPILP). As part of the arrangement, Capital Power acquired CPILP's Roxboro and Southport plants in North Carolina.
Sale of Hydro Facilities
On October 12, 2012, Innergex Renewable Energy Inc. acquired Capital Power's Brown Lake, B.C., and Miller Creek, B.C. hydro facilities.
Sale of New England FacilitiesGenesee Generating Station - Warburg, AB
Clover Bar Energy Centre - Edmonton, AB
Clover Bar Landfill Gas Plant - Edmonton, AB
Halkirk Wind Project - Halkirk, AB
Shepard Energy Centre - Calgary, AB
Island Generating Station - Campbell River, BC
Quality Wind - Tumbler Ridge, BC
Kingsbridge Wind Power Project - Goderich, ON
Port Dover and Nanticoke Wind Project - Counties of Haldimand & Norfolk, ON
Southport - North Carolina
Roxboro - North Carolina
Macho Springs Wind - New Mexico
On November 19, 2013, Emera Inc. acquired Capital Power's Bridgeport, Tiverton, and Rumford facilities, including certain emissions credits.
Capital Power has economic interests in the following facilities, which are operated by other entities:Joffre - Red Deer, AB
Keephills 3 - Wabamun, AB
Capital Power, in a limited partnership with Samsung Renewable Energy Inc., and Pattern Renewable Holdings Canada ULC, is proposing a wind project for the Township of Ashfield-Colborne-Wawanosh.
Capital Power is planning to develop the new natural gas-powered Capital Power Energy Centre in Alberta. On December 5, 2013, Capital Power entered into a joint-venture agreement with ENMAX Corporation to develop, construct, own and operate the project, which was renamed to Genesee 4 & 5.
In November 2014, Capital Power acquired 10 wind development sites and four solar sites in the United States through the acquisition of Element Power US, LLC.