Capital Power completes acquisition of the 1,092-MW Harquahala natural gas generation facility in Arizona
EDMONTON, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) (“Capital Power” or the “Company”) is pleased to announce the closing today of the acquisition by a 50/50 partnership between Capital Power Investments, LLC and an affiliate of a fund managed by BlackRock’s Diversified Infrastructure business (“BlackRock”) of 100% of the equity interests in New Harquahala Generating Company, LLC (the “Harquahala Acquisition”) which owns the 1,092 MW Harquahala natural gas-fired generation facility in Arizona.
- EDMONTON, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) (“Capital Power” or the “Company”) is pleased to announce the closing today of the acquisition by a 50/50 partnership between Capital Power Investments, LLC and an affiliate of a fund managed by BlackRock’s Diversified Infrastructure business (“BlackRock”) of 100% of the equity interests in New Harquahala Generating Company, LLC (the “Harquahala Acquisition”) which owns the 1,092 MW Harquahala natural gas-fired generation facility in Arizona.
- The Harquahala Acquisition and the acquisition of the 1,062 MW La Paloma natural gas-fired generation facility in California were previously announced on November 20, 2023.
- The net purchase price for the two acquisitions attributable to Capital Power is US$1.1 billion, subject to working capital adjustments.
- Capital Power will be responsible for the operation, maintenance and asset management of the facilities relating to the Acquisitions and will receive an annual management fee for the Harquahala facility.