By Katherine Hamilton
Capital Power plans to acquire two natural-gas sites in the U.S. for $2.2 billion.
The Edmonton, Alberta, power producer said Monday it has entered a definitive agreement to buy the Hummel Station Intermediate Holdings and Rolling Hills Generating Holdings, both of which are subsidiaries of LS Power Equity Advisors.
Capital Power would get 100% of the equity interests in Hummel, which owns a combined-cycle natural gas facility in Pennsylvania, and 100% equity interest in Rolling Hills, which owns a combustion turbine natural gas plant in Ohio.
The deal is set to close in the third quarter of 2025. Capital Power is initiating a $500 million common-share offering to fund the acquisition, along with cash on hand and longer term debt financing.
The acquisition is part of Capital Power's strategy to acquire more flexible generation assets, the company said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 14, 2025 17:00 ET (21:00 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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