Capstone Infrastructure Corporation has announced that it has acquired the remaining interests in Glen Dhu Wind Energy Limited Partnership and Fitzpatrick Mountain Wind Energy Inc., as well as closed a new corporate credit facility.
On December 31, 2017, Capstone acquired the remaining 51 per cent interest in Glen Dhu, a 62.1 MW wind facility located near Merigomish, Nova Scotia, and the remaining 50 per cent interest in Fitzpatrick, a 1.6 MW wind facility located near Pictou, Nova Scotia, increasing Capstone’s interests in both to 100 per cent. Glen Dhu and Fitzpatrick are fully contracted under power purchase agreements expiring in 2031 and 2022, respectively, and continue to be managed and operated by a subsidiary of Capstone.
On December 15, 2017, Capstone Power Corp., a subsidiary of the Corporation, completed a $145 million corporate refinancing. The new corporate credit facility, which matures in 2021, is comprised of a $95 million revolving and letter of credit facility and a $50 million term facility, and provides Capstone with greater flexibility and lower cost.