Pembina Pipeline Corp T.PPL.PF.B

Power Purchase Agreement

[ace1mccoy]

Capstone Infrastructure Corporation Signs Power Purchase Agreement with Pembina Pipeline For Wild Rose 2 Wind Farm  07:23 AM EDT, 05/09/2022 (MT Newswires) -- Capstone Infrastructure Corporation (CSE-PR-A.TO) announced Sunday that its subsidiary, Wild Rose 2 Wind LP, has entered into a power purchase agreement with Pembina Pipeline Corp (PPL.TO) for the offtake of 105 MW of renewable energy and associated renewable attributes over 15-years from Capstone's 192 MW Wild Rose 2 Wind Farm, currently in development. Capstone has also entered into a turbine supply agreement with Siemens Gamesa Renewable Energy Inc. for the procurement of 38 turbines. According to Sunday's statement, The PPA "signals another step forward" towards a low-carbon electricity sector in Alberta and provides the foundation that supports Capstone's investment in the 192 MW Wild Rose 2 Wind Farm. Once operational, the Wild Rose 2 Wind Farm will be the largest facility in Capstone's fleet and will make a significant contribution to Alberta's goal of a net-zero electricity sector by 2035. The wind farm will be constructed in Cypress County, Alberta, 35 km southeast of Medicine Hat, and will benefit from the very high wind resource in the area. Total construction capital is estimated at $360 million with construction expected to begin later this year.