Capstone Infrastructure Corporation Celebrates a New Milestone
Capstone Infrastructure Corporation (TSX: CSE.PR.A) has successfully commissioned the impressive 192 MW Wild Rose 2 Wind Farm, a project located in Cypress County, Alberta. This achievement reflects the company’s dedication to advancing renewable energy and showcases the hard work of its talented team.
David Eva, CEO of Capstone, expressed immense pride in this endeavor, emphasizing that the Wild Rose 2 Wind Farm is not only their largest project to date but also a significant step forward in the company’s mission to enhance renewable energy capacity. With this addition, Capstone has now surpassed a total installed capacity of 1 GW across its operating fleet.
Strategic Partnerships for Sustainable Energy
Capstone’s commitment to sustainability is reinforced through strategic partnerships with companies such as Pembina Pipeline and the City of Edmonton, both of whom will benefit from the energy produced by the Wild Rose 2 Wind Farm. These partnerships aim to meet compelling climate goals and promote decarbonization efforts in the private and public sectors.
As part of this initiative, Capstone has entered into a power purchase agreement (PPA) with Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA), through which Pembina will receive 105 MW of renewable energy over a span of 15 years. This agreement enables Pembina to secure sustainable, cost-effective energy, ultimately reducing its carbon footprint.
Scott Burrows, President and CEO of Pembina Pipeline, noted the importance of power purchase agreements, highlighting how such arrangements serve as effective means to promote renewable energy infrastructure and support a transition towards lower carbon energy sources.
Innovative Agreements with Local Government
Additionally, Capstone has formed a Renewable Attributes Purchase Agreement (RAPA) with the City of Edmonton, providing the city with 78 MW of renewable energy attributes for over 20 years. This landmark agreement represents the largest long-term procurement of renewable energy attributes by a Canadian city, supporting Edmonton’s ambitious climate targets to achieve carbon neutrality in its operations by 2040.
Mayor Amarjeet Sohi of Edmonton emphasized the city’s commitment to bold action for climate goals, showcasing the synergy between municipal initiatives and private sector involvement as essential for creating a green energy future.
Ceremony Celebrating the Launch
To commemorate this significant achievement, Capstone hosted a ribbon-cutting ceremony at the Wild Rose 2 Wind Farm. The event was attended by host landowners, local officials, and representatives from both Pembina Pipeline and the City of Edmonton, celebrating the collaborative effort behind this project.
Natural Resources Canada provided crucial support for the project through its Smart Renewables and Electrification Pathways Program, underscoring the federal government's commitment to fostering renewable energy in Canada.
The Honourable Tim Hodgson, Minister of Energy and Natural Resources Canada, highlighted Canada’s ambitions to position itself as an energy superpower while also striving to deliver affordable energy solutions to the residents of Alberta. He recognized Wild Rose 2 Wind as a prime example of how sustainable energy projects can flourish with support from both the public and private sectors.
About the Wild Rose 2 Wind Farm
Located in Cypress County, Alberta, the Wild Rose 2 Wind Farm is strategically positioned to capitalize on the area's strong wind resources. Constructed by the Capstone subsidiary Wild Rose 2 Wind Inc., this facility has created approximately 475 jobs during its construction phase. Once operational, it is anticipated to generate enough electricity to power nearly 80,000 homes annually while reducing carbon emissions by substantially offsetting nearly 250,000 metric tonnes of CO2e.
About Capstone Infrastructure Corporation
Capstone is dedicated to a sustainable energy future, actively driving the transition to cleaner sources through innovative approaches and partnerships. As a developer and operator of renewable energy projects across North America, Capstone’s portfolio includes 1,077 MW of installed capacity across various facilities, showcasing its commitment to solar, wind, hydro, and biomass energy solutions.
For more information about Capstone and its initiatives, visit www.capstoneinfrastructure.com.
Frequently Asked Questions
What is the capacity of the Wild Rose 2 Wind Farm?
The Wind Rose 2 Wind Farm has a capacity of 192 MW, making it the largest project undertaken by Capstone Infrastructure Corporation.
Who signed the agreements with Capstone?
Capstone has entered into agreements with Pembina Pipeline and the City of Edmonton for the energy produced at the Wild Rose 2 Wind Farm.
What are the environmental benefits of the Wild Rose 2 Wind Farm?
The project is expected to avoid approximately 250,000 metric tonnes of CO2 emissions annually, contributing significantly to the reduction of greenhouse gases.
Who attended the ribbon-cutting ceremony?
The ceremony was attended by host landowners, local officials, and representatives from Pembina Pipeline and the City of Edmonton.
Where can I find more information about Capstone?
More information about Capstone Infrastructure Corporation can be found on their official website at www.capstoneinfrastructure.com.
