CALGARY, June 1 /CNW/ - On May 8, 2009, EPCOR Utilities Inc. (EPCOR)
announced its plans to create Capital Power Corporation (CPC). In connection
with the creation of CPC, CPC will acquire EPCOR's 30.6% interest in EPCOR
Power LP (EPLP).
In connection with the acquisition by CPC of EPCOR's interest in EPLP,
EPCOR has requested that the independent directors of the general partner of
EPLP review and approve proposed amendments to, and the transfer to CPC of,
certain non-arms length material agreements. To assist the independent
directors in discharging this obligation, the independent directors have
retained Greenhill & Co. as their financial advisors and McCarthy Tétrault LLP
as their legal advisors.
A decision of the independent directors will be made and communicated to
EPCOR in due course.
About EPCOR Power L.P.
Established in 1997, EPLP is a limited partnership organized under the
laws of the Province of Ontario. EPLP's portfolio consists of 20 wholly-owned
power generation assets located in Canada and the United States, a 50.15 per
cent interest in a power generation asset in Washington State, and an overall
15.4 per cent equity interest in Primary Energy Recycling Holdings LLC (PERH).
EPLP's assets have a total net generating capacity of 1,464 megawatts and more
than four million pounds per hour of thermal energy. PERH wholly owns four
recycled energy assets in the United States with an aggregate generation
capacity of 283 megawatts and nearly two million pounds per hour of thermal
energy, and has a 50 per cent interest in a pulverized coal facility. EPCOR
USA Ventures LLC, formerly Primary Energy Ventures LLC, a wholly-owned
subsidiary of EPLP, manages and operates these facilities for PERH. For more
information on EPLP, please visit: www.epcorpowerlp.ca.
For further information:
For further information: Media inquiries: Tim LeRiche, (780) 969-8238;
Unitholder and analyst inquiries: Randy Mah, (780) 412-4297, (866) 896-4636