Capital Power Income L.P. (the Partnership) is a limited partnership organized under the laws of the Province of Ontario, which has an ownership interest in a portfolio of power generation assets in Canada and the United States.
The Partnership's mission is to be Canada's premier income fund, providing a stable cash distribution to unitholders. This will be accomplished by being growth-oriented while providing unitholders with reliable long-term cash flows. Superior operating and commercial management practices will be applied to a quality portfolio of energy assets.
The Partnership was founded in 1997, and managed by subsidiaries of TransCanada Corporation until August 31, 2005. TransCanada's interest was then acquired by EPCOR Utilities Inc. (EPCOR), one of Canada's leading providers of power and water. The Partnership broadened its portfolio with its acquisition of Frederickson Power L.P. on August 1, 2006, Primary Energy Ventures (PEV) on November 1, 2006, and Morris Cogeneration LLC on October 31, 2008 increasing its net generating capacity to 1,400 megawatts with approximately four million pounds per hour of thermal energy.
On May 8, 2009, EPCOR announced its intention to launch an independent power generation business called Capital Power Corporation (CPC). EPCOR planned on CPC and its subsidiaries acquiring all the power generation assets and related operations of EPCOR, including its interest in EPCOR Power L.P. On July 9, 2009, Capital Power Corporation successfully completed an initial public offering of common shares. The company’s common shares trade on the TSX under the symbol CPX.
EPCOR Power L.P. was re-named as Capital Power Income L.P. in November 2009.
The Partnership owns 19 wholly-owned power generation assets located in Canada & the United States, a 50.15 per cent interest in a power generation asset in Washington state.
Drawing on over 100 years of experience, Capital Power builds, owns and operates power plants, electrical transmission and distribution networks, water and wastewater treatment facilities, and infrastructure.
What's New
Note: Prior to July 1, 2009, financial reports, news releases, investor presentations and other documents were issued by EPCOR Utilities Inc. or their subsidiaries. Capital Power Corporation, an EPCOR-launched independent power generation business, acquired EPCOR Power L.P. upon its creation on July 9, 2009. EPCOR Power L.P. was renamed Capital Power Income L.P. in November 2009.
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