Capstone Infrastructure

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|

Capstone Infrastructure Corporation

Company type| Public

Traded as

| TSX: CSE.PR.A
Industry| Electricity Generation
Headquarters|

Toronto

Canada

Key people

| Michael Bernstein, President & CEO
Revenue| C$138.48m

Operating income

| C$20.91m

Net income

| C$11.26m
Subsidiaries| Clean Power Operating Trust

Capstone Infrastructure Corporation is a Toronto, Ontario-based open-ended trust that invests in the following types of power generation assets: Natural Gas cogeneration, Wind, Hydro, Biomass and Solar.[1] It was formerly known as Macquarie Power & Infrastructure Income Fund.

## Corporate History[edit]

Macquarie Power & Infrastructure Income Fund (MP&I) first listed on the Toronto Stock Exchange in April 2004 as Macquarie Power Income Fund with the 156MW Cardinal natural gas plant as its sole asset.[2] In April 2005, the fund's founding President & CEO Bob Rollison announced a broader acquisition strategy that would include infrastructure assets beyond the energy sector.[3]

### Leisureworld Acquisition and Divestiture[edit]

This broader mandate allowed MP&I to acquire 45% of Leisureworld, an operator of Long-Term care facilities in Ontario, in 2005. However, management opted to divest this asset in 2009 - arguing that they wanted to focus more on "core infrastructure categories, such as power generation, electricity transmission or distribution, and utilities and transportation."[4]

## Subsidiaries & Related Firms[edit]

### Regional Power[edit]

Regional Power, a subsidiary of Manulife Financial, oversees the day-to-day operations at MP&I's four hydro facilities (Sechelt, Hluey Lakes, Dryden and Wawatay).

### Clean Energy Income Fund[edit]

In June 2007, MP&I completed the purchase of Clean Power Income Fund, which roughly doubled its assets.[5] This transaction marked MP&I's entry into the renewable energy market, as it acquired one wind farm (Erie Shores), four hydro projects (Sechelt, Hluey Lakes, Wawatay and Dryden), the Whitecourt biomass plant, and a 31.3% interest in the Chapais biomass plant.

## Projects[edit]

### Operational Power Projects[edit]

Name  | Location  | Fuel Source  | Capacity (MW)  | Ref

|
|
|
|

Cardinal | Ontario | Natural Gas | 156 | [6]
Erie Shores | Ontario | Wind | 99 | [7]
Ganaraska  | Ontario  | Wind  | 17  | [8]
Sechelt | British Columbia | Hydro | 16 | [9]
Hluey Lakes | British Columbia | Hydro | 3 | [10]
Wawatay | Ontario | Hydro | 14 | [11]
Dryden | Ontario | Hydro | 3 | [12]
Whitecourt | Alberta | Biomass | 25 | [13]
Chapais | Québec | Biomass | 28 | [14]

### Projects Under Construction[edit]

MP&I is developing a 20MW solar park in Amherstburg, Ontario. SunPower has been contracted to design, build and operate the facility, which has been awarded a 30-year Power Purchase Agreement by the Ontario Power Authority.[15]

## References and footnotes[edit]

1. ^ "Macquarie Group Limited | Global Financial Services". www.macquarie.com.
2. ^ Macquarie Power Income Fund Media Release, 30 April 2004
3. ^ Macquarie Power Income Fund Press Release, 14 April 2005
4. ^ MP&I Annual Report, 2009
5. ^ MP&I Annual Report, 2007
6. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Cardinal". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
7. ^ "Power Portfolio". capstoneinfrastructure.com. Retrieved 2024-01-20.
8. ^ "Power Portfolio". www.capstoneinfrastructure.com. Retrieved 2024-01-21.
9. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Sechelt". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
10. ^ "At-a-glance | Capstone Infrastructure's mission is to build and responsibly manage a high quality portfolio of core infrastructure businesses in Canada and internationally in order to deliver a superior total return to our investors through stable dividends and capital appreciation. Our portfolio currently includes power infrastructure and utilities businesses in Canada and Sweden, respectively". 2011-09-23. Archived from the original on 2011-09-23. Retrieved July 6, 2023.
11. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Wawatay". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
12. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Dryden". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
13. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Whitecourt". Archived from the original on 2010-10-04. Retrieved 2010-12-03.
14. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Chapais". Archived from the original on 2010-12-28. Retrieved 2010-12-03.
15. ^ "Macquarie Power & Infrastructure Income Fund - Portfolio - Amherstburg Solar Park". Archived from the original on 2010-12-28. Retrieved 2010-12-03.

## External links[edit]

* Official website