Latest news with #CapitalPower
CBC
30-05-2025
- Business
- CBC
The goal of 'farming under every panel'
Solar Sheep's Janna Grier and Capital Power's Wade Heuscher explain why animals are used at the Strathmore Solar site in Alberta.
CBC
30-05-2025
- Business
- CBC
This Alberta solar field is becoming a high-tech hobby farm on the side
This summer, a solar field in Alberta will not only be generating about 40 megawatts of electricity each sunny day but also producing eggs, honey, meat and wool. There are 110,000 solar panels on the 130 hectares of land, in addition to about 400 sheep, 40 pigs and 100 chickens. The bees are arriving soon. The solar project, which is owned by Edmonton-based Capital Power and located near the town of Strathmore, is beginning to resemble a hobby farm. But for those involved, it's an important opportunity to test new technology and farming techniques. As demand for electricity grows every year, this site provides a glimpse into the future of the solar industry in Canada. The chickens arrived this week and began laying eggs inside their new home, a mobile coop that slowly moves between the long rows of panels. The structure is a self-propelled pasture barn designed by UKKÖ Robotics, a Manitoba-based startup. The concept is to house animals in a building, while providing fresh grass to graze and spreading the manure evenly on the land. Multiple times a day, the coop slowly moves a small distance, usually half a metre at a time. The company has installed 50 of the roaming structures around the world, but this is the first time it will operate on a solar site. "If it does work, I think there's some great applications throughout North America because this is underutilized agricultural land," said Daniel Badiou, co-founder and CEO of UKKÖ Robotics. Solar industry vs. farming As the solar industry has expanded, especially in Alberta, rural landowners have raised concerns about the impact on farmland. Those critiques are in part why the Alberta and Ontario governments have introduced new rules that restrict solar panel development on prime agricultural land and require solar operators to include some type of agriculture, depending on the quality of the land. But sheep farmer Janna Grier said she thinks solar farming and regular farming can actually go hand in hand. She's the co-founder of Solar Sheep, and this is the fourth summer that she'll manage the vegetation at this solar field. "Our vision is essentially farming under every panel," said Grier, who began by using sheep and has expanded to test out on other animals. "We want to kind of prove the concept that we can raise more protein and more local food per acre," she said. "There's a ton of solar development going on throughout the province, and so we're just trying to keep that land in agriculture. But we're also trying to keep it and leave it in a better place than when we started." 'Rethinking how beekeeping is done' The bees will also be part of testing new technology, as they will be housed in a predator-proof, climate-controlled building that's similar in size to a garden shed. The mobile indoor apiary is designed and built by Bee Cube, a Calgary startup. Instead of housing one hive in a box, the Bee Cube building can house up to 20 hives. So far, seven of the structures have been built, including the one at the solar field. Each building has sensors to monitor temperature, humidity, weight and the sound of the bees. "All that data goes to a database so that beekeepers will know what's going on inside their hives at any given time," said Herman Van Reekum, founder and CEO of Bee Cube. The next step will be integrating artificial intelligence to provide early warnings and management tips. The technology is aimed at improving bee health, while also saving time for beekeepers. At the solar field, the bees will not only produce honey; they'll help pollinate the various types of flowering plants. "It's going to be a great learning experience," Van Reekum said. "Bees are dying at unbelievable rates, and so we're trying to do something about that through this kind of rethinking how beekeeping is done." The main objective of the Strathmore solar field, located about 40 kilometres east of Calgary, is to generate electricity, but the agricultural activities are nonetheless important, said Wade Heuscher, solar manager for Capital Power, the power generator that owns the project. The company is beginning a 10-year soil-testing program to better understand how the livestock, rotational grazing and vegetation management are impacting the soil conditions. "One of the common issues is that we've taken this land and we've made it into a solar farm, and it's now not usable for anything else. We're showing that there's a difference here," Heuscher said. "This is the way of the future. I think this is a partnership that all solar providers should be looking at doing." WATCH | The synergy between solar and agriculture: The goal of 'farming under every panel' 12 minutes ago Duration 1:30 Solar Sheep's Janna Grier and Capital Power's Wade Heuscher explain why animals are used at the Strathmore Solar site in Alberta.
Yahoo
28-05-2025
- Business
- Yahoo
Capital Power Announces Closing of US$1.2 Billion of Senior Notes
EDMONTON, Alberta, May 28, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) ('Capital Power' or the 'Company') announced today the closing of a private offering of US$700 million aggregate principal amount of 5.257% senior notes due 2028 (the '2028 Notes') and US$500 million aggregate principal amount of 6.189% senior notes due 2035 (the '2035 Notes' and, collectively, the 'Notes') issued by Capital Power (US Holdings) Inc., a U.S. wholly-owned subsidiary of the Company. The Notes are guaranteed by the Company and the Company's subsidiaries that guarantee the Company's revolving credit facilities. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition of 100% of the equity interests in Hummel Station, LLC, which owns the 1,124 MW Hummel Station, a combined-cycle natural gas facility in Shamokin Dam, Pennsylvania, and 100% of the equity interests in Rolling Hills Generating, L.L.C., which owns the 1,023 MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, Ohio (together, the 'Acquisition'). The 2035 Notes are subject to a special mandatory redemption if the Company does not consummate the Acquisition on or prior to the later of (i) January 15, 2026 or (ii) the date that is five business days after any later date to which the parties to the acquisition agreement may agree to extend the outside date in the acquisition agreement, or the Company notifies the trustee that it will not pursue the consummation of the Acquisition. If the Acquisition is not completed, the Company intends to use the net proceeds from the offering to fund such special mandatory redemption and the remaining to finance future growth opportunities including acquisitions, finance capital development expenditures, reduce outstanding indebtedness or for other general corporate purposes. The offer and sale of the Notes have not been registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and non U.S. persons outside the United States in reliance on Regulation S under the U.S. Securities Act. The offer and sale of the notes were not qualified for sale under the securities laws of any province or territory of Canada. In Canada, the Notes were offered and sold on a private placement basis in certain provinces of Canada pursuant to exemptions from, or transactions not subject to, the prospectus requirements under applicable securities legislation in Canada. This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful. Forward-looking Information This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'anticipate', 'proposed', 'estimated', 'estimates', 'would', 'expects', 'intends', 'plans', 'may', 'will', and similar expressions, although not all forward-looking information contain these identifying words. This press release includes forward-looking information and statements pertaining to expectations regarding the use of proceeds of the offering of the Notes. These statements are based on certain assumptions and analyses made by Capital Power considering its experience and perception of historical trends, current conditions, expected future developments and other factors it believes appropriate, including in respect of the completion of the Acquisition. Whether actual results, performance or achievements will conform to the Company's expectations and predictions are subject to a number of known and unknown risks and uncertainties which could cause actual results and experience to differ materially from the Company's expectations. Such material risks and uncertainties include matters relating to the completion of the Acquisition including obtaining regulatory approvals required for closing of the Acquisition. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. Territorial Acknowledgement In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power's head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community. About Capital Power Capital Power is a growth-oriented power producer with approximately 10 GW of power generation at 30 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future. We are Powering Change by Changing Power™. Contact Media RelationsKatherine Perron(780) 392-5335 kperron@ Investor RelationsRoy Arthur(403) 736-3315investor@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Capital Power Announces Pricing of US$1.2 Billion of Senior Notes
EDMONTON, Alberta, May 13, 2025 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) ('Capital Power' or the 'Company') announced today the pricing of a private offering of US$700 million aggregate principal amount of 5.257% senior notes due 2028 (the '2028 Notes') and US$500 million aggregate principal amount of 6.189% senior notes due 2035 (the '2035 Notes' and, collectively, the 'Notes') to be issued by Capital Power (US Holdings) Inc., a U.S. wholly-owned subsidiary of the Company. The Notes will be guaranteed on the issue date by the Company and the Company's subsidiaries that guarantee the Company's revolving credit facilities. The offering is expected to close on or about May 28, 2025, subject to customary conditions. The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition of 100% of the equity interests in Hummel Station, LLC, which owns the 1,124 MW Hummel Station, a combined-cycle natural gas facility in Shamokin Dam, Pennsylvania, and 100% of the equity interests in Rolling Hills Generating, L.L.C., which owns the 1,023 MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, Ohio (together, the 'Acquisition'). The 2035 Notes will be subject to a special mandatory redemption if the Company does not consummate the Acquisition on or prior to the later of (i) January 15, 2026 or (ii) the date that is five business days after any later date to which the parties to the acquisition agreement may agree to extend the outside date in the acquisition agreement, or the Company notifies the trustee that it will not pursue the consummation of the Acquisition. If the Acquisition is not completed, the Company intends to use the net proceeds from the offering to fund such special mandatory redemption and the remaining to finance future growth opportunities including acquisitions, finance capital development expenditures, reduce outstanding indebtedness or for other general corporate purposes. The offer and sale of the Notes have not been registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any United States state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and non U.S. persons outside the United States in reliance on Regulation S under the U.S. Securities Act. The offer and sale of the notes have not been qualified for sale under the securities laws of any province or territory of Canada. In Canada, the Notes are to be offered and sold on a private placement basis in certain provinces of Canada pursuant to exemptions from, or transactions not subject to, the prospectus requirements under applicable securities legislation in Canada. This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful. Forward-looking Information This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'anticipate', 'proposed', 'estimated', 'estimates', 'would', 'expects', 'intends', 'plans', 'may', 'will', and similar expressions, although not all forward-looking information contain these identifying words. This press release includes forward-looking information and statements pertaining to expectations regarding the use of proceeds and expected closing of the offering of the Notes. These statements are based on certain assumptions and analyses made by Capital Power considering its experience and perception of historical trends, current conditions, expected future developments and other factors it believes appropriate, including in respect of the completion of the Acquisition. Whether actual results, performance or achievements will conform to the Company's expectations and predictions are subject to a number of known and unknown risks and uncertainties which could cause actual results and experience to differ materially from the Company's expectations. Such material risks and uncertainties include matters relating to the completion of the Acquisition including obtaining regulatory approvals required for closing of the Acquisition. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. Territorial Acknowledgement In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power's head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community. About Capital Power Capital Power is a growth-oriented power producer with approximately 10 GW of power generation at 30 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future. We are Powering Change by Changing PowerTM. Contact Media RelationsKatherine Perron(780) 392-5335 kperron@ Investor RelationsRoy Arthur(403) 736-3315investor@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-04-2025
- Business
- Yahoo
Capital Power acquires two US natural gas-fired power plants for $2.2bn
Capital Power has announced the strategic acquisition of two flexible generation assets in the US for $2.2bn: the 1,124MW Hummel station in Pennsylvania and the 1,023MW Rolling Hills plant in Ohio. The transaction will close in the third quarter of 2025. The move positions Capital Power among the top five North American independent power producers with more than 10GW of natural gas capacity. The acquisition aligns with the company's strategy to expand in the US and the PJM [Pennsylvania, New Jersey, Maryland] market. Capital Power expects the acquisition to generate an average annual adjusted EBITDA (earnings before interest, taxation, depreciation and amortisation) of approximately $443m from 2026 to 2030. To fund the acquisition, the company has launched a $500m common share offering, fully covering the equity funding requirement. Additional funding will be sourced from cash reserves, debt financing and credit facilities. A commitment letter dated 14 April 2025 with a Canadian chartered bank affiliate of TD Securities secures $2bn in senior unsecured term loans. Capital Power also has access to $1bn under its existing revolving credit facilities, ensuring financial flexibility and maintaining its investment-grade credit rating. Capital Power president and CEO Avik Dey stated: 'Capital Power's acquisition of Hummel and Rolling Hills expands our US generation fleet and advances our position as a leading North American power producer. 'With our expansion into the largest and most liquid power market in North America, we continue to deliver on our strategy. These plants will bolster our flexible generation portfolio and align with our commitment to provide reliable, affordable power solutions that support a balanced approach to energy expansion. 'As a leading operator in North America, our ability to integrate these assets, optimise performance and enhance returns through our robust trading platform underpins the long-term value we expect these acquisitions will provide for our shareholders.' The company partnered with TD Securities and CIBC Capital Markets to issue 8,060,000 common shares at $43.45 per share, raising $350m. An over-allotment option could increase proceeds to $403m and a private placement with the Alberta Investment Management Corporation will raise $150m. The public offering and private placement are set to close around 22 April 2025. The proceeds will fund the acquisition, with alternative plans for future growth opportunities if the acquisition does not complete. The funding plan ensures Capital Power's financial stability and supports its strategic growth initiatives. "Capital Power acquires two US natural gas-fired power plants for $2.2bn" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
