Capstone Infrastructure Corporation
TypePublic
TSX: CSE.PR.A
IndustryElectricity Generation
Headquarters
Toronto
,
Canada
Key people
Michael Bernstein, President & CEO
RevenueC$138.48m
C$20.91m
C$11.26m
SubsidiariesClean Power Operating Trust

Capstone Infrastructure Corporation is a Toronto, Ontario-based open-ended trust that invests in the following types of power generation assets: Natural Gas cogeneration, Wind, Hydro, Biomass and Solar.[1] It was formerly known as Macquarie Power & Infrastructure Income Fund.

Corporate History

Macquarie Power & Infrastructure Income Fund (MP&I) first listed on the Toronto Stock Exchange in April 2004 as Macquarie Power Income Fund with the 156MW Cardinal natural gas plant as its sole asset.[2] In April 2005, the fund's founding President & CEO Bob Rollison announced a broader acquisition strategy that would include infrastructure assets beyond the energy sector.[3]

Leisureworld Acquisition and Divestiture

This broader mandate allowed MP&I to acquire 45% of Leisureworld, an operator of Long-Term care facilities in Ontario, in 2005. However, management opted to divest this asset in 2009 - arguing that they wanted to focus more on "core infrastructure categories, such as power generation, electricity transmission or distribution, and utilities and transportation."[4]

Regional Power

Regional Power, a subsidiary of Manulife Financial, oversees the day-to-day operations at MP&I's four hydro facilities (Sechelt, Hluey Lakes, Dryden and Wawatay).

Clean Energy Income Fund

In June 2007, MP&I completed the purchase of Clean Power Income Fund, which roughly doubled its assets.[5] This transaction marked MP&I's entry into the renewable energy market, as it acquired one wind farm (Erie Shores), four hydro projects (Sechelt, Hluey Lakes, Wawatay and Dryden), the Whitecourt biomass plant, and a 31.3% interest in the Chapais biomass plant.

Projects

Operational Power Projects

Name Location Fuel Source Capacity (MW) Ref
CardinalOntarioNatural Gas156[6]
Erie ShoresOntarioWind99[7]
SecheltBritish ColumbiaHydro16[8]
Hluey LakesBritish ColumbiaHydro3[9]
WawatayOntarioHydro14[10]
DrydenOntarioHydro3[11]
WhitecourtAlbertaBiomass25[12]
ChapaisQuébecBiomass28[13]

Projects Under Construction

MP&I is developing a 20MW solar park in Amherstburg, Ontario. SunPower has been contracted to design, build and operate the facility, which has been awarded a 30-year Power Purchase Agreement by the Ontario Power Authority.[14]

References and footnotes

  1. ↑ "Macquarie Group Limited | Global Financial Services". www.macquarie.com.
  2. ↑ Macquarie Power Income Fund Media Release, 30 April 2004
  3. ↑ Macquarie Power Income Fund Press Release, 14 April 2005
  4. ↑ MP&I Annual Report, 2009
  5. ↑ MP&I Annual Report, 2007
  6. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Cardinal". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  7. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Erie Shores Wind Farm". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  8. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Sechelt". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  9. ↑ "At-a-glance | Capstone Infrastructure's mission is to build and responsibly manage a high quality portfolio of core infrastructure businesses in Canada and internationally in order to deliver a superior total return to our investors through stable dividends and capital appreciation. Our portfolio currently includes power infrastructure and utilities businesses in Canada and Sweden, respectively". 2011-09-23. Archived from the original on 2011-09-23. Retrieved July 6, 2023.
  10. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Wawatay". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  11. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Dryden". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  12. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Whitecourt". Archived from the original on 2010-10-04. Retrieved 2010-12-03.
  13. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Chapais". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
  14. ↑ "Macquarie Power & Infrastructure Income Fund - Portfolio - Amherstburg Solar Park". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
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