Capital Power
{{short description|Canadian power generation}}
{{Infobox company
| name = Capital Power
| logo = Capital_Power_Logo.svg
| type = Public
| traded_as = {{TSX|CPX}}
| genre =
| foundation =
| founder =
| location_city = Edmonton, Alberta
| location_country = Canada
| location =
| locations =
| area_served = North America
| industry = Power Generation
| products =
| services = Electricity
| revenue = {{increase}} CAD$ 2,929 million (2022){{Cite web|url=https://www.capitalpower.com/media/media_releases/capital-power-reports-fourth-quarter-and-year-end-2022-results/|title=Capital Power reports fourth quarter and year-end 2022 results|website=Capital Power}}
| operating_income = {{increase}} CAD$ 1,353 million (2022)
| net_income = {{increase}} CAD$ 128 million (2022)
| assets = {{increase}} CAD$ 5,393 million (2022)
| equity =
| owner =
| num_employees = 813 (as of December 31, 2018){{cite web|title=Capital Power 2018 Annual Information Form|url=https://www.sedar.com/GetFile.do?lang=EN&docClass=1&issuerNo=00028458&issuerType=03&projectNo=02875296&docId=4462660|website=System for Electronic Document Analysis and Retrieval|publisher=SEDAR|accessdate=February 19, 2019|page=45|format=Annual Information Form|date=February 19, 2019}}
| parent =
| divisions =
| subsid =
| website = {{url|http://www.capitalpower.com}}
| footnotes =
}}
Capital Power is a Canadian independent power generation company based in Edmonton, Alberta, Canada.{{Cite web|url=https://windsorstar.com/news/local-news/capital-powers-natural-gas-turbine-expansion-in-windsor-approved|title=Capital Power's natural gas turbine expansion in Windsor approved |website=Windsor Star}}{{Cite web|url=https://edmonton.ctvnews.ca/feds-announce-500m-contract-with-edmonton-company-for-green-electricity-1.6259517|title=Feds announce $500M contract with Edmonton company for green electricity|date=February 3, 2023|website=Edmonton}} It develops, acquires, owns and operates power generation facilities using a variety of energy sources.
History
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 was created through issuance of a 25 percent IPO by EPCOR Utilities in 2009.{{Cite web|url=https://www.reuters.com/article/capitalpower-ipo-idUSN2950524220090629|title=Capital Power C$500mln IPO targets global investors|date=June 29, 2009|via=Reuters}}
The Clover Bar Landfill Gas facility was commissioned in 2005.{{Cite web |last=Burton |first=Dentons-Courtney R. |date=2022-06-14 |title=Things you need to know about Canada's growing renewable natural gas utilization |url=https://www.lexology.com/library/detail.aspx?g=8a76b46c-6ea3-47a6-83f4-fc9132415024 |access-date=2023-12-21 |website=Lexology |language=en}} The facility utilizes landfill gas from the City of Edmonton's Waste Management Centre and output from the facility is sold to the City of Edmonton.{{Cite web|url=https://edmontonjournal.com/news/local-news/edmontons-clover-bar-landfill-still-not-capped-and-releasing-gas-after-13-years-new-capture-technology-planned|title=Edmonton's Clover Bar landfill still releasing gas {{pipe}} Edmonton Journal}}
In October 2010, Capital Power acquired the Island Generation Facility, a 275 megawatt (MW), gas-fired combined cycle power plant at Campbell River, British Columbia, from Kelson Canada.{{Cite web|url=https://www.cbc.ca/news/canada/edmonton/capital-power-buys-b-c-electricity-plant-1.907884|title=Capital Power buys B.C. electricity plant|last=|first=|date=August 3, 2010|website=CBC News|archive-url=|archive-date=|access-date=}}{{Cite web|url=https://www.nsenergybusiness.com/news/newscapital_power_to_buy_275mw_gasfired_plant_in_british_columbia_100803/|title=Capital Power To Buy 275MW Gas-fired Plant In British Columbia - NS Energy}}
In September 2011, Capital Power and TransAlta completed the 495 MW (gross) Keephills 3 generating facility and announced the commencement of commercial operation at the facility.{{Cite web|url=https://www.powermag.com/transalta-plays-defense-coal-renewables/|title=TransAlta Plays Defense with Coal Out, Renewables In|date=February 1, 2016|website=POWER Magazine}}
In November 2011, Atlantic Power Corporation acquired Capital Power Income.{{Cite web|url=https://www.power-eng.com/news/atlantic-power-purchases-capital-power-income/|title=Atlantic Power purchases Capital Power Income|first=Clarion Energy Content|last=Directors|date=June 20, 2011}}{{Cite web|url=https://www.reuters.com/article/cbusiness-us-capitalpower-atlanticpower-idCATRE75J2RR20110620|title=Atlantic Power to buy Capital Power Income for C$1.10 billion|date=June 20, 2011|via=Reuters}} As part of the arrangement, Capital Power acquired CPILP's Roxboro and Southport plants in North Carolina.
In October 2012, Innergex Renewable Energy Inc. acquired Capital Power's Brown Lake, B.C., and Miller Creek, B.C. hydro facilities.{{Cite web|url=https://www.ebmag.com/innergex-acquiring-brown-lake-and-miller-creek-hydro-facilities-in-bc-12505/|title=Innergex acquiring Brown Lake and Miller Creek hydro facilities in B.C.|first=Anthony|last=Capkun|date=June 22, 2012|website=Electrical Business}}{{Cite web|url=https://www.piquenewsmagazine.com/whistler-news/innergex-buys-miller-creek-run-of-river-ipp-from-capital-power-2491359|title=Innergex buys Miller Creek run-of-river IPP from Capital Power|date=June 14, 2012|website=Pique Newsmagazine}}
In November 2012, Capital Power's 142 MW Quality Wind project, located in British Columbia, began commercial operation.{{Cite web|url=https://www.powermag.com/alberta-firm-to-build-b-c-wind-project/|title=Alberta Firm to Build B.C. Wind Project|date=March 17, 2010|website=POWER Magazine}}{{Cite web|url=https://www.power-technology.com/marketdata/quality-wind-farm-canada/|title=Quality Wind Farm, Canada|date=December 9, 2021}}
In December 2012, Capital Power and ENMAX Corporation announced the signing of a joint venture agreement to build, own and operate the 800 MW Shepard Energy Centre in Calgary.{{Cite web|url=https://www.cbc.ca/news/canada/calgary/shepard-energy-centre-powered-by-natural-gas-fully-operational-enmax-says-1.2990863|title=Shepard Energy Centre, powered by natural gas, fully operational, Enmax says|last=|first=|date=March 11, 2015|website=CBC News|url-status=live|archive-url=https://web.archive.org/web/20150312112059/http://www.cbc.ca:80/news/canada/calgary/shepard-energy-centre-powered-by-natural-gas-fully-operational-enmax-says-1.2990863 |archive-date=2015-03-12 |access-date=}}
In November 2013, Emera Inc. acquired Capital Power's facilities in Connecticut: Bridgeport, Rhode Island: Tiverton, and Maine: Rumford, including certain emissions credits.{{cite web|title=Capital Power completes sale of its New England assets|url=http://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00028458&fileName=/csfsprod/data148/filings/02134679/00000001/e%3A\CapitalPower\CPC-NR-NOV19.pdf|work=News Release|publisher=System for Electronic Document Analysis and Retrieval (SEDAR)|accessdate=June 16, 2014}} These facilities were subsequently sold by Emera to the Carlyle Group.
In February 2017, Capital Power entered into an agreement to acquire the thermal power business of Veresen, consisting of two gas-fired generation facilities and two waste heat assets.{{Cite web|url=https://calgaryherald.com/business/energy/veresen-selling-power-generation-business-for-1-18-billion|title=Veresen Inc. selling power generation business {{pipe}} Calgary Herald}}{{Cite web|url=https://www.reuters.com/article/brief-capital-power-closes-284-megawatt-idCAASA09IOR|title=BRIEF-Capital Power closes 284 megawatt contracted thermal portfolio acquisition from Veresen|date=April 13, 2017|via=www.reuters.com}}{{Cite web|url=https://www.power-technology.com/news/newsveresen-to-sell-its-power-generation-business-for-118bn-5745925/|title=Veresen to sell power generation business for $1.18bn|date=February 21, 2017}}
In March 2017, Capital Power and ENMAX Corporation announced that the Shepard Energy Centre was chosen as the test site for the natural gas track of the $20 million NRG COSIA Carbon XPRIZE, a global competition to develop breakthrough technologies that convert carbon dioxide (CO2) into valuable products. Shepard Energy Centre will host the new Alberta Carbon Conversion Technology Centre, as well as provide the flue gas for testing during the NRG COSIA Carbon XPRIZE and for future innovators.
In June 2017, Capital Power's Bloom Wind project, located in Kansas began commercial operation.{{Cite web|url=https://nawindpower.com/capital-power-flips-switch-bloom-wind-kansas|title=Capital Power Flips The Switch On Bloom Wind In Kansas|first=Betsy|last=Lillian|date=June 13, 2017|website=North American Windpower}}{{Cite web |title=Capital Power grows contracted power generation close to 1GW - NS Energy |url=https://www.nsenergybusiness.com/news/newscapital-power-grows-contracted-power-generation-close-to-1gw-150617-5844319/ |access-date=2023-12-21 |language=en-US}}
In October 2023, Capital Power announced that it would acquire 50.15 percent stake in the Frederickson 1 Generating Station, a natural gas-fired combined-cycle generation facility located in Pierce County, Washington.{{Cite web|url=https://www.power-technology.com/news/capital-power-gas-power-plant/|title=Capital Power to buy stake in Washington gas-fired power plant}} The acquisition was completed in December 2023.{{Cite web|url=https://www.capitalpower.com/media/media_releases/capital-power-completes-acquisition-of-50-interest-in-the-frederickson-1-generating-station/ |title=Capital Power completes acquisition of 50.15% interest in the Frederickson 1 Generating Station}}
In November 2023, Capital Power announced that it would acquire two natural gas-fired generation facilities: the 1,092 MW Harquahala facility in Arizona, and the 1,062 MW La Paloma facility in California for $1.1 billion.{{Cite web |url=https://www.power-eng.com/gas/1092-mw-arizona-natural-gas-plant-changes-hands/ |title=1,092 MW Arizona natural gas plant changes hands |first=Sean |last=Wolfe |date=19 February 2024 |website=Power Engineering}} Both acquisitions were completed in February 2024.
Operations
= In operation=
- 150 Mile House Waste Heat in British Columbia, Canada{{Cite web |title=Waste Heat Energy Recovery For On-Site Power {{!}} Engineered Systems Magazine |url=https://www.esmagazine.com/articles/94158-waste-heat-energy-recovery-for-on-site-power |access-date=2023-12-21 |website=www.esmagazine.com |language=en}}
- Arlington Valley in Arizona, United States{{Cite web |title=Arlington Valley |url=https://www.capitalpower.com/operations/arlington-valley/ |access-date=2023-12-21 |website=Capital Power |language=en-CA}}{{Cite web |last= |date=2021-12-23 |title=Arlington Valley Energy Facility, US |url=https://www.power-technology.com/marketdata/arlington-valley-energy-facility-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Beaufort Solar in North Carolina, United States{{Cite web |last= |date=2022-02-21 |title=Power plant profile: Beaufort Solar PV Park, US |url=https://www.power-technology.com/marketdata/power-plant-profile-beaufort-solar-pv-park-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Buckthorn Wind in Texas, United States{{Cite web |last= |date=2021-12-15 |title=Buckthorn Wind Farm, US |url=https://www.power-technology.com/marketdata/buckthorn-wind-farm-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Bloom Wind in Kansas, United States{{Cite web |last= |date=2021-12-06 |title=Bloom Wind Farm, US |url=https://www.power-technology.com/marketdata/bloom-wind-farm-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Cardinal Point Wind in Illinois, United States{{Cite web |last= |date=2021-12-08 |title=Cardinal Point Wind Farm, US |url=https://www.power-technology.com/marketdata/cardinal-point-wind-farm-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Clover Bar Energy Centre in Alberta, Canada{{Cite web |title=Clover Bar Energy Centre |url=https://www.capitalpower.com/operations/clover-bar-energy-centre/ |access-date=2023-12-21 |website=Capital Power |language=en-CA}}
- Clover Bar Landfill Gas Plant in Alberta, Canada{{cite web |last=Boothby |first=Lauren |title=Edmonton's Clover Bar landfill still not capped and releasing gas after 13 years, new capture technology planned |url=https://edmontonjournal.com/news/local-news/edmontons-clover-bar-landfill-still-not-capped-and-releasing-gas-after-13-years-new-capture-technology-planned |website=Edmonton Journal |date=November 25, 2022 |publisher=Postmedia Network |access-date=May 6, 2024 |archive-date=May 6, 2024 |archive-url=https://web.archive.org/web/20240506185125/https://edmontonjournal.com/news/local-news/edmontons-clover-bar-landfill-still-not-capped-and-releasing-gas-after-13-years-new-capture-technology-planned |url-status=live}}
- Clydesdale Solar in Alberta, Canada{{Cite web |last= |first= |title=Clydesdale Solar Project |url=https://majorprojects.alberta.ca/details/Enchant-Solar-Project/4402 |access-date=2023-12-21 |website=majorprojects.alberta.ca |language=en}}
- Decatur Energy Center in Alabama, United States{{Cite web |last= |date=2021-12-16 |title=Decatur Energy Center, US |url=https://www.power-technology.com/marketdata/decatur-energy-center-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Genesee Generating Station in Alberta, Canada{{Cite web |last= |date=2023-04-22 |title=Power plant profile: Genesee Generating Station 1 & 2, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-genesee-generating-station-1-2-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}{{Cite web |last= |date=2022-01-10 |title=Power plant profile: Genesee Generating Station 3, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-genesee-generating-station-3-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Goreway Power Station in Ontario, Canada{{Cite web |last= |date=2021-12-17 |title=Goreway Power Station, Canada |url=https://www.power-technology.com/marketdata/goreway-power-station-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Halkirk Wind in Alberta, Canada{{Cite web |title=Halkirk Wind Project |url=https://www.power-technology.com/projects/halkirk-wind-project/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Island Generating Station in British Columbia, Canada{{Cite web |last= |date=2022-01-21 |title=Power plant profile: Island Generation Facility, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-island-generation-facility-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Joffre Cogeneration Plant in Alberta, Canada{{Cite web |last= |date=2022-01-11 |title=Power plant profile: Joffre Cogeneration Plant, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-joffre-cogeneration-plant-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Kingsbridge Wind Power Project in Ontario, Canada{{Cite web |last= |date=2022-02-07 |title=Power plant profile: Kingsbridge, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-kingsbridge-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Macho Springs Wind in New Mexico, United States{{Cite web |last= |date=2022-01-17 |title=Power plant profile: Macho Springs Wind Energy Project, US |url=https://www.power-technology.com/marketdata/power-plant-profile-macho-springs-wind-energy-project-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Midland Cogeneration Venture in Michigan, United States{{Cite web |last= |first= |date=2022-07-13 |title=Midland Cogeneration pricetag: $894 million |url=https://www.ourmidland.com/news/article/Midland-Cogeneration-facility-purchased-for-894-17302397.php |access-date=2023-12-21 |website=Midland Daily News |language=en-US}}
- New Frontier Wind in North Dakota, United States{{Cite web |title=North Dakota's New Frontier Wind project now operational |url=https://www.windpowerengineering.com/north-dakotas-new-frontier-wind-project-now-operational/ |access-date=2023-12-21 |website=Windpower Engineering & Development |language=en-US}}{{Cite web |last= |date=2021-12-15 |title=New Frontier Wind Energy Project, US |url=https://www.power-technology.com/marketdata/new-frontier-wind-energy-project-us/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Port Dover and Nanticoke Wind in Ontario, Canada{{Cite web |last= |date=2021-12-13 |title=Port Dover and Nanticoke Wind Project, Canada |url=https://www.power-technology.com/marketdata/port-dover-and-nanticoke-wind-project-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Quality Wind in British Columbia, Canada{{Cite web |last= |date=2021-12-09 |title=Quality Wind Farm, Canada |url=https://www.power-technology.com/marketdata/quality-wind-farm-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Savona Waste Heat in British Columbia, Canada{{Cite web |title=Canada's waste-to-power plant is online - UPI.com |url=https://www.upi.com/Energy-News/2008/09/04/Canadas-waste-to-power-plant-is-online/19361220538600/ |access-date=2023-12-21 |website=UPI |language=en}}
- Shepard Energy Centre in Alberta, Canada{{Cite web |last= |date=2021-12-20 |title=Shepard Energy Centre, Canada |url=https://www.power-technology.com/marketdata/shepard-energy-centre-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- Strathmore Solar in Alberta, Canada{{Cite web |last= |first= |title=Strathmore Solar Farm |url=https://majorprojects.alberta.ca/details/Strathmore-Solar-Farm/4175 |access-date=2023-12-21 |website=majorprojects.alberta.ca |language=en}}
- Whitla Wind Project in Alberta, Canada{{Cite web |title=Whitla Wind Project, Forty Mile County, Alberta, Canada |url=https://www.nsenergybusiness.com/projects/whitla-wind-project/ |access-date=2023-12-21 |language=en-US}}{{Cite web |last= |date=2021-12-15 |title=Whitla Wind Project, Canada |url=https://www.power-technology.com/marketdata/whitla-wind-project-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
- York Energy Centre in Ontario, Canada{{Cite web |title=York Energy Centre |url=https://www.capitalpower.com/operations/york-energy-centre/ |access-date=2023-12-21 |website=Capital Power |language=en-CA}}
- Harquahala Natural Gas Generation Station in Arizona
- La Paloma Combined Cycle Gas Generation Station in Kern County, California
- Frederickson 1 Generating Station in Pierce County, Washington.
=Under construction=
- Genesee Generating Station Repowering Genesee 1 & 2{{Cite web |last=Walton |first=Rod |date=2021-10-11 |title=Capital Power converting coal-fired Genesee units to combined cycle gas-fired technologies by 2024 |url=https://www.power-eng.com/emissions/capitol-power-converting-coal-fired-genesee-units-to-combined-cycle-gas-fired-technologies-by-2024/ |access-date=2023-12-21 |website=Power Engineering |language=en-US}}
=In development=
- Bear Branch Solar in North Carolina, United States{{Cite web|url=https://www.power-technology.com/data-insights/power-plant-profile-bear-branch-solar-pv-park-us/|title=Power plant profile: Bear Branch Solar PV Park, US|date=February 1, 2022}}
- East Windsor Generation Facility Expansion
- Goreway – Battery Energy Storage System in Ontario, Canada{{Cite web |title=Goreway - Battery Energy Storage System |url=https://www.capitalpower.com/operations/goreway-power-station-bess/ |access-date=2023-12-21 |website=Capital Power |language=en-CA}}
- Goreway Power Station – Upgrades Project in Ontario, Canada{{Cite web |title=Goreway Power Station - Upgrade Project |url=https://www.capitalpower.com/operations/goreway-power-station-upgrade/ |access-date=2023-12-21 |website=Capital Power |language=en-CA}}
- Halkirk 2 Wind in Alberta, Canada{{Cite web |last= |date=2022-01-13 |title=Power plant profile: Halkirk 2 Wind Power Project, Canada |url=https://www.power-technology.com/marketdata/power-plant-profile-halkirk-2-wind-power-project-canada/ |access-date=2023-12-21 |website=Power Technology |language=en-US}}
See also
References
{{reflist}}
External links
- [http://www.capitalpower.com Capital Power Corporation website]
{{Edmonton Corporations}}
Category:Electric power companies of Canada
Category:Electric power companies of Alberta
Category:Companies based in Edmonton
Category:Companies formerly owned by municipalities of Canada
Category:Energy companies established in 1970
Category:Non-renewable resource companies established in 1970
Category:Renewable resource companies established in 1970
Category:1970 establishments in Alberta
Category:Companies listed on the Toronto Stock Exchange