CALGARY, Feb. 28, 2013 /CNW/ - ENMAX Corporation is pleased to announce that it has financially closed Capital Power Corporation's purchase of an initial 25 per cent interest in a joint venture to build and operate the Shepard Energy Centre. Capital Power and ENMAX have agreed to financially close on the second 25 per cent tranche by no later than the first quarter of 2014.
Located in east Calgary, the 800 MW natural gas-fueled electricity generation facility is on budget and on schedule to be operational in the first quarter of 2015.
About ENMAX Corporation
ENMAX Corporation, through subsidiaries and predecessors, has provided Albertans with safe, reliable electricity for over 100 years. The ENMAX group of companies provides electricity, natural gas and value-added services to over 750,000 residential, commercial and industrial metered customer locations in Alberta. ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is Alberta's leading competitive electricity retailer. Through subsidiaries, ENMAX Energy is one of Alberta's largest investors in renewable energy and the first Canadian electricity retailer to offer customers the option to support wind generated energy. Also, ENMAX Corporation, through its subsidiary ENMAX Envision Inc., provides fibre optic networks for high speed data and internet communications.
About Capital Power
Capital Power (TSX: CPX) 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 3,600 megawatts of power generation capacity at 16 facilities across North America. An additional 595 megawatts of owned generation (including the Shepard Energy Centre) is under construction or in advanced development.
Certain information in this news release is forward-looking within the meaning of Canadian securities laws as it relates to anticipated financial and operating performance, events or strategies. The forward-looking information or statements are provided to inform shareholders and potential investors about management's assessment of Capital Power's future plans and operations. This information may not be appropriate for other purposes. The forward-looking information in this news release is generally identified by words such as will, anticipate, believe, plan, intend, target, and expect or similar words that suggest future outcomes. Material forward-looking information includes, among other things, information relating to: (i) expectations regarding future growth and emerging opportunities in the Alberta market including the focus on certain technologies; and (ii) expectations regarding the timing of, funding of, and costs for existing and planned development projects and acquisitions.
All forward-looking information or statements reflect Capital Power's assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, and other factors it believes are appropriate. Readers are cautioned not to place undue reliance on this forward-looking information. Capital Power undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to Capital Power's Management's Discussion and Analysis dated and filed March 1, 2013 under Capital Power's profile on SEDAR at http://www.sedar.com/ and other reports filed by Capital Power with Canadian securities regulators.
SOURCE: ENMAX Corporation
For further information:
Media only contact
Michael Sheehan, Media Relations Manager
Capital Power Corporation
T. 780.392.5222 / P. 780.903-5213