Capstone acquires 51% stake in 132MW Claresholm solar project

31 January 2020 (Last Updated January 31st, 2020 12:26)

Canada’s Capstone Infrastructure has acquired a 51% stake in the 132MW Claresholm solar project from Perimeter Solar.

Canada’s Capstone Infrastructure has acquired a 51% stake in the 132MW Claresholm solar project from Perimeter Solar.

The companies have not disclosed the financial details of the deal.

The remaining 49% interest in the project is indirectly held by Danish renewable energy investment company Obton.

Capstone CEO David Eva said: “We are very excited to work alongside Obton and Perimeter to deliver this groundbreaking project, which, when complete, will be Canada’s largest solar facility.

“Claresholm is an ideal fit for Capstone as we expand our presence in Alberta and grow our renewables business.”

Located in the Municipal District of Willow Creek, Alberta, Canada, the Claresholm solar photovoltaic (PV) facility is being developed 13km east of the town of Claresholm, Alberta.

The solar project has already obtained regulatory approvals from the Alberta Utilities Commission. The construction works at the site are expected to begin in the first half of the year.

Perimeter Business Development director Philipp Andres said: “The Perimeter team is very pleased with the sale of the Claresholm Solar Project into the capable hands of Capstone and Obton.

“Having originated and developed the project to this stage, it is a very rewarding experience for Perimeter to see the project move into the construction phase.

“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. The project represents many firsts for solar energy in Canada and Alberta, and we eagerly anticipate the project becoming fully operational.”

In September 2019, Perimeter signed a power purchase agreement with TC Energy to supply 74.25MW of clean electricity generated by the Claresholm solar project.