 |
Capstone Infrastructure Corporation, formerly known as Macquarie Power & Infrastructure Income Fund (MP&I), is a Toronto, Ontario-based open-ended trust that invests in the following types of power generation such as natural gas cogeneration, wind, hydro, biomass and solar.[1]
Macquarie Power & Infrastructure Income Fund (MP&I) first listed on the Toronto Stock Exchange in April 2004 as Macquarie Power Income Fund with the 156MW Cardinal natural gas plant as its sole asset.[2] In April 2005, the fund's founding President & CEO Bob Rollison announced a broader acquisition strategy that would include infrastructure assets beyond the energy sector.[3]
This broader mandate allowed MP&I to acquire 45% of Leisureworld, an operator of Long-Term care facilities in Ontario, in 2005. However, management opted to divest this asset in 2009, arguing that they wanted to focus more on "core infrastructure categories, such as power generation, electricity transmission or distribution, and utilities and transportation."[4]
Regional Power, a subsidiary of Manulife Financial, oversees the day-to-day operations at MP&I's four hydro facilities (Sechelt, Hluey Lakes, Dryden and Wawatay).
In June 2007, MP&I completed the purchase of Clean Power Income Fund, which roughly doubled its assets.[5] This transaction marked MP&I's entry into the renewable energy market, as it acquired one wind farm (Erie Shores), four hydro projects (Sechelt, Hluey Lakes, Wawatay and Dryden), the Whitecourt biomass plant, and a 31.3% interest in the Chapais biomass plant.
| Name | Location | Fuel Source | Capacity (MW) | Ref |
|---|---|---|---|---|
| Cardinal | Ontario | Natural Gas | 156 | [6] |
| Erie Shores | Ontario | Wind | 99 | [7] |
| Ganaraska | Ontario | Wind | 17 | [8] |
| Sechelt | British Columbia | Hydro | 16 | [9] |
| Hluey Lakes | British Columbia | Hydro | 3 | [10] |
| Wawatay | Ontario | Hydro | 14 | [11] |
| Dryden | Ontario | Hydro | 3 | [12] |
| Whitecourt | Alberta | Biomass | 25 | [13] |
| Chapais | Québec | Biomass | 28 | [14] |
MP&I is developing a 20MW solar park in Amherstburg, Ontario. SunPower has been contracted to design, build and operate the facility, which has been awarded a 30-year Power Purchase Agreement by the Ontario Power Authority.[15]
