Capstone Infrastructure Corp. has acquired 29 megawatts of operating wind projects in Ontario from wpd Europe GmbH for an undisclosed amount.
Capstone acquired the projects, known as the Springwood, Whittington, Napier and Sumac Ridge wind facilities, with a combination of equity and non-recourse project debt with MUFG Bank, Canada Branch and Associated Bank.
The four facilities have an average of 14 years remaining on their power-purchase agreements and will be operated and maintained by Capstone’s in-house operations and maintenance team.
“These projects are an excellent addition to Capstone’s portfolio, with long-life contracts, located in close proximity to several of our existing wind farms which utilize the same Senvion MM92 wind turbines,” said David Eva, CEO of Capstone. “This acquisition furthers our strategy of leveraging Capstone’s operational and financing capabilities to responsibly grow the business.”
Capstone owns and operates
