Capstone Infrastructure Corporation, formerly known as Macquarie Power & Infrastructure Income Fund (MP&I), is a Toronto, Ontario-based open-ended trust that invests in various types of power generation such as natural gas cogeneration, wind, hydro, biomass and solar.
Corporate history 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.Macquarie Power Income Fund Media Release, 30 April 2004 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.Macquarie Power Income Fund Press Release, 14 April 2005
Leisureworld Acquisition and Divestiture 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."MP&I Annual Report, 2009
Subsidiaries and related firms
Regional Power 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 In June 2007, MP&I completed the purchase of Clean Power Income Fund, which roughly doubled its assets.MP&I Annual Report, 2007 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
Operational Power Projects Name Location Fuel Source Capacity (MW) Cardinal Ontario Natural Gas 156 Erie Shores Ontario Wind 99 GanaraskaOntarioWind17Sechelt British Columbia Hydro 16 Hluey Lakes British Columbia Hydro 3 Wawatay Ontario Hydro 14 Dryden Ontario Hydro 3 Whitecourt Alberta Biomass 25 Chapais Québec Biomass 28
Projects under construction 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.
References and footnotes
External links