Capital Power Corporation and EPCOR Announce Completion of $224 Million Secondary Offering of Common Shares and Closing of Exercise of Over-Allotment Option


EDMONTON, Nov. 10, 2011 /CNW/ - Capital Power Corporation (TSX: CPX) and EPCOR Utilities Inc. announced today that EPCOR has completed its sale of 9,200,000 common shares of Capital Power at an offering price of $24.40 per common share for aggregate gross proceeds to EPCOR of $224,480,000.  The aggregate offering is comprised of the previously announced offering of 8,200,000 shares at $24.40 per share for gross proceeds of approximately $200 million, together with the underwriters exercising the over-allotment option for the sale of an additional 1,000,000 shares at $24.40 per share for additional gross proceeds of $24,400,000. The underwriting syndicate for the offering was co-led by CIBC World Markets Inc. and RBC Capital Markets.

Following completion of the offering, EPCOR indirectly owns approximately 39% of the common shares of Capital Power on a fully diluted basis, which it intends to sell as its demands for capital require and market conditions permit.

Forward-Looking Information

Certain information in this news release relating to EPCOR is forward-looking and related to anticipated events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which include, but are not limited to, regulatory and government decisions, economic conditions, and availability and cost of financing.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

About Capital Power Corporation

Capital Power (CPX:TSX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources.  Capital Power owns more than 3,300 megawatts of power generation capacity at 16 facilities across North America. An additional 487 megawatts of owned wind generation capacity is under construction or in advanced development in British Columbia, Alberta, and Ontario.

About EPCOR Utilities Inc.

EPCOR's wholly-owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure. EPCOR, headquartered in Edmonton, Alberta, is an Alberta Top 50 employer.

SOURCE Capital Power Corporation

For further information:

Capital Power Corporation      
Media inquiries:          Colleen Wilson (780) 392-5022
Investor relations:          Randy Mah (780) 392-5305
EPCOR Utilities Inc.      
Media inquiries:          Tim LeRiche (780) 969-3238
Corporate relations         Claudio Pucci (780) 969-8245
      (877) 969-8280 (toll-free)


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Capital Power Corporation

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