(Source: Canada Newswire)
CALGARY, June 1 /CNW/ - On May 8, 2009, EPCOR Utilities Inc. (EPCOR) announced its plans to create Capital Power Corporation (CPC). In connection with the creation of CPC, CPC will acquire EPCOR's 30.6% interest in EPCOR Power LP (EPLP).
In connection with the acquisition by CPC of EPCOR's interest in EPLP, EPCOR has requested that the independent directors of the general partner of EPLP review and approve proposed amendments to, and the transfer to CPC of, certain non-arms length material agreements. To assist the independent directors in discharging this obligation, the independent directors have retained Greenhill & Co. as their financial advisors and McCarthy Tetrault LLP as their legal advisors.
A decision of the independent directors will be made and communicated to EPCOR in due course.
About EPCOR Power L.P.
Established in 1997, EPLP is a limited partnership organized under the laws of the Province of Ontario. EPLP's portfolio consists of 20 wholly-owned power generation assets located in Canada and the United States, a 50.15 per cent interest in a power generation asset in Washington State, and an overall 15.4 per cent equity interest in Primary Energy Recycling Holdings LLC (PERH). EPLP's assets have a total net generating capacity of 1,464 megawatts and more than four million pounds per hour of thermal energy. PERH wholly owns four recycled energy assets in the United States with an aggregate generation capacity of 283 megawatts and nearly two million pounds per hour of thermal energy, and has a 50 per cent interest in a pulverized coal facility. EPCOR USA Ventures LLC, formerly Primary Energy Ventures LLC, a wholly-owned subsidiary of EPLP, manages and operates these facilities for PERH. For more information on EPLP, please visit: www.epcorpowerlp.ca.
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