On December 31, 2017, Capstone acquired the remaining 51% interest in Glen Dhu, a 62.1 MW wind facility located near Merigomish, Nova Scotia, and the remaining 50% interest in Fitzpatrick, a 1.6 MW wind facility located near Pictou, Nova Scotia, increasing Capstone’s interests in both to 100%.
Glen Dhu and Fitzpatrick are fully contracted under power purchase agreements expiring in 2031 and 2022, respectively, and continue to be managed and operated by a subsidiary of Capstone.
On December 15, 2017, Capstone Power Corp., a subsidiary of the Corporation, completed a $145 million corporate refinancing.
The new corporate credit facility, which matures in 2021, is comprised of a $95 million revolving and letter of credit facility and a $50 million term facility, and provides Capstone with greater flexibility and lower cost.
