Capstone Infrastructure acquires stake in 132 megawatt Alta. solar project

TORONTO — Utility operator Capstone Infrastructure Corp. announced Jan. 30 it acquired a 51% interest in the 132 megawatt Claresholm Solar Project from Perimeter Solar Inc.

The Claresholm Solar Project is located in the Municipal District of Willow Creek, Alberta. In 2019, the project received regulatory approvals from the Alberta Utilities Commission and executed a 74 megawatt power purchase agreement with TC Energy Corp. Construction is scheduled to begin in the spring of 2020.

The remaining 49% interest is indirectly held by Denmark-based Obton A/S, a renewable energy investment firm.

“We are very excited to work alongside Obton and Perimeter to deliver this groundbreaking project, which, when complete, will be Canada’s largest solar facility. Claresholm is an ideal fit for Capstone as we expand our presence in Alberta and grow our renewables business,” said David Eva, CEO, Capstone, in a prepared statement.

Philipp Andres, director, Business Development, Perimeter, added, “The Perimeter team is very pleased with the sale of the Claresholm Solar Project into the capable hands of Capstone and Obton. Having originated and developed the project to this stage, it is a very rewarding experience for Perimeter to see the project move into the construction phase. We are confident the project will prove its value to the new project owners as well as to the landowners hosting the project and the local community. The project represents many firsts for solar energy in Canada and Alberta, and we eagerly anticipate the project becoming fully operational.”