Calgary

Capstone buys stake in proposed Alberta solar power generation project

Toronto-based Capstone Infrastructure Corp. says it is buying a 51 per cent interest in the 132-megawatt Claresholm Solar Project in southern Alberta from Calgary-based Perimeter Solar Inc.

$200-million facility was approved for construction last year

Capstone Infrastructure Corp. says it is buying a 51 per cent interest in the Claresholm Solar project, similar to this file photo, located about 125 kilometres south of Calgary. (Susan Montoya Bryan/The Associated Press)

Toronto-based Capstone Infrastructure Corp. says it is buying a 51 per cent interest in the 132-megawatt Claresholm Solar Project in southern Alberta from Calgary-based Perimeter Solar Inc.

The $200-million power generation facility was approved for construction last year after TC Energy Corp. signed a deal to buy just over half of its electricity output.

Capstone CEO David Eva says the project will be Canada's largest solar facility when complete and is an ideal fit as his company expands its renewables business.

Capstone's partner will be Obton A/S of Denmark, which holds a 49 per cent interest.

It is to be built on land owned by the Granum Hutterite colony near the town of Claresholm, with construction starting in the spring.

Philipp Andres, Perimeter's director of business development, says seeing the project created and developed by his company move into the construction phase is very rewarding.

"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," he said in a news release.

Capstone says it owns and operates about 541 megawatts of net installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass and natural gas power plants.