Capstone acquisition of stake in Claresholm Solar Project
On January 30, 2020, Capstone Infrastructure Corporation ("Capstone") announced it acquired a 51% interest in the 132 MWac Claresholm Solar Project from Perimeter Solar Inc. ("Perimeter"). The remaining 49% interest is indirectly held by Denmark-based Obton A/S, a renewable energy investment firm.
Further information can be found on Globe Newswire's website.
The Claresholm Solar Project, located on 1,280 acres of agricultural land in southern Alberta, is comprised of approximately 477,198 photovoltaic solar panels mounted on fixed-tilt racking.
The project received regulatory approvals from the Alberta Utilities Commission in 2019 and executed a 74 MWac power purchase agreement with TC Energy Corporation. Construction began in November 2020 and was completed in April 2021, at which time it was recognized as Canada's largest solar project.
Further information on the project can be found on Capstone's website.
Capstone owns and operates, approximately net 541 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants.
Torys acted as counsel with a team that included Huw Evans, Philip Symmonds, Andrew Bedford, Carla Hunt, Zehra Sheerazi and Collin Intrater (corporate/M&A).
Torys also acted on the following in connection with this project:
| Jurisdiction | Willow Creek |
| Province/State | Alberta |
| Country | Canada |
| Nature of Engagement | M&A |
| Client | Capstone Infrastructure |
| Client Role | Acquiror |