Capstone takes control in Canada
Developer acquires outstanding shares in Glen Dhu and Fitzpatrick wind farms
Capstone Infrastructure Corp has acquired the outstanding interests in two wind farms totalling 63.7MW in Nova Scotia, Canada.
The company has bought the remaining 51% stake in the 62.1MW Glen Dhu facility and the 50% interest in the 1.6MW Fitzpatrick project.
Glen Dhu, which is located near Merigomish, has a power purchase agreement (PPA) in place until 2031. Fitzpatrick, which is close to Pictou, has a PPA secured until 2022.
Capstone said its Capstone Power Corp subsidiary had also completed a $145m corporate refinancing, which matures in 2021.
The finance comprises a $95m revolving and letter of credit facility and a $50m term loan.
Capstone said the new finance deal provides it with “greater flexibility and lower cost”.