trending Market Intelligence /marketintelligence/en/news-insights/trending/AZFJbOjz0ZidY_Gs3iKfqQ2 content esgSubNav
In This List

Capital Power completes 99-MW ND wind farm below budget

Blog

Insight Weekly: Labor market recovery hurdles; power market integration; nonbank M&A hunt

Blog

ESG & Technology: Impacts and Implications

Blog

Q&A: Q2'21 Power Forecast: Overheated Power Markets are Here – Who Wins, Who Loses, and Why?

Blog

Essential Energy Insights - October 2021


Capital Power completes 99-MW ND wind farm below budget

Capital Power Corp. completed the 99-MW New Frontier wind farm in McHenry County, N.D., on-schedule and below its original project cost estimate of about C$182 million.

The facility began commercial operation on Dec. 21, 2018. The company will operate the project under a 12-year commodity swap agreement with Morgan Stanley Capital Group Inc. The contract covers 87% of the facility's output.

The contracts mandates Capital Power to swap the floating day-ahead price established at a nearby MISO market hub for a fixed price payable by Morgan Stanley for a fixed amount of energy established on an hourly basis.

"With everything in place and completion below budget, New Frontier Wind is set to exceed our original return expectations," said Brian Vaasjo, president and CEO of Capital Power.

In addition, the company said it received about C$125 million in net tax equity financing from JPM Capital Corp. in exchange for class A interests on Dec. 31, 2018.