Today, Capstone Infrastructure Corporation (TSX: CSE.PR.A)
("Capstone”) and Sawridge First Nation (“Sawridge”) are proud to
announce the successful commissioning of four wind farms in
Alberta.
Generating a low carbon future
The Buffalo Atlee 1, 2, 3, and 4 Wind Farms add another 61 MW of
emissions-free electricity capacity to the Alberta grid, which is
expected to provide enough power for approximately 26,000 homes in
Alberta homes every year. Together, the four facilities are
expected to avoid fossil fuel CO2 emissions of approximately 93,000
metric tonnes annually at the start of commercial operation.
"Capstone prides itself on forging partnerships that support the
energy transition while delivering economic benefits for local
communities and our Indigenous partners, and all of the Buffalo
Atlee project partners shares this same vision. I’d also like to
extend a huge thank you to the dedicated Capstone project team that
made this project a reality.”
Building Relationships with Indigenous and Local
Communities
Through these projects, Capstone is pleased to establish a
long-term equity partnership with the Sawridge First Nation, a Cree
people that is an original signatory to Treaty 8. Additionally, the
Buffalo Atlee Wind Farms are expected to provide millions of
dollars in stable, long-term revenue to the local municipality of
Special Areas No. 2.
“The Sawridge First Nation recognizes the importance of
developing renewable energy sources in support of growth and in
pursuit of sustainability. We are proud of the partnership we
have built with Capstone and are excited to celebrate the official
launch of this project.”
- Chief Isaac Twinn, Sawridge First Nation
Forging Strategic Partnerships
The electricity produced at the Buffalo Atlee 2 and 4 Wind Farms
will be purchased by Gibson Energy Inc. ("Gibson") (TSX: GEI),
according to the terms of the 15-year renewable power purchase
agreement (PPA) signed by Capstone, Sawridge, and Gibson in 2023.
The PPA demonstrates Gibson’s commitment to the low-carbon
transition and achieving its emission reduction targets, including
a goal of Net Zero by 2050.
“I’d like to reiterate how proud we are to partner with Capstone
and Sawridge First Nation, as we see our shared commitment to
community development and decarbonization of the power grid in
action with the successful commissioning of the Buffalo Atlee
project. This project truly exemplifies the power of collaboration
and stakeholders working together to support energy
transition.”
- Omar Saif, SVP & Chief Operating Officer, Gibson
Energy
Capstone celebrated the milestone today at a ribbon-cutting
event at Buffalo Atlee 4 with local officials from Special Areas
No.2, representatives from Gibson Energy, and other project
stakeholders. In recognition of the environmental and electricity
system benefits, Natural Resources Canada provided federal support
through the Smart Renewables and Electrification Pathways
Program.
“The Government of Canada is delivering affordable and reliable
power to Albertans, while advancing boldly toward a sustainable and
prosperous future. Clean electricity projects like Buffalo Atlee’s
wind farms are not only a critical part of Canada’s energy future;
they also represent economic opportunities for local communities. I
am pleased to celebrate the opening of this exciting project that
marks a partnership between the federal government, Capstone
Infrastructure, and the Sawridge First Nation.”
- The Honourable Jonathan Wilkinson, Minister of Natural
Resources Canada
About Capstone
Capstone is generating our low-carbon future, driving the energy
transition forward through creative thinking, strong partnerships,
and a commitment to quality and integrity in how we do business. A
developer, owner, and operator of clean and renewable energy
projects across North America, Capstone's portfolio includes 885 MW
gross installed capacity across 35 facilities, including wind,
solar, hydro, biomass, and natural gas power plants. Please visit
www.capstoneinfrastructure.com for more information.
About Sawridge First Nation
The Sawridge First Nation is located at the east end of the
Lesser Slave Lake in Alberta near the Town of Slave Lake and is an
original signatory to Treaty No. 8 (signed June 21, 1899). The
Sawridge First Nations is a self-determining, innovative,
progressive and prosperous nation of Cree people who continue to
govern in a harmonious and balanced way, inclusive of all members,
valuing relationships, customs, and traditions, with honour and
respect for our culture and the environment, continuing for future
generations. For more information visit
www.sawridgefirstnation.com.
About Gibson Energy Inc.
Gibson is a leading liquids infrastructure company with its
principal businesses consisting of the storage, optimization,
processing, and gathering of liquids and refined products.
Headquartered in Calgary, Alberta, the Company's operations are
located across North America, with core terminal assets in Hardisty
and Edmonton, Alberta, Ingleside, Texas, and including a facility
in Moose Jaw, Saskatchewan.
Notice to Readers
Certain of the statements contained within this document are
forward-looking and reflect management’s expectations regarding the
future growth, results of operations, performance and business of
Capstone Infrastructure Corporation (‘Capstone’ or the
‘Corporation’) based on information currently available to the
Corporation. Forward-looking statements are provided for the
purpose of presenting information about management’s current
expectations and plans relating to the future and readers are
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These statements are subject to known and unknown risks and
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accordingly, should not be read as guarantees of future performance
or results. The forward-looking statements within this document are
based on information currently available and what the Corporation
currently believes are reasonable assumptions.
The forward-looking statements within this document reflect
current expectations of the Corporation as at the date of this
document and speak only as at the date of this document. Except as
may be required by applicable law, the Corporation does not
undertake any obligation to publicly update or revise any
forward-looking statements.
This document is not an offer or invitation for the subscription
of or a recommendation of securities. It does not take into account
the investment objectives. Financial situation and particular needs
of any investors. Before making an investment in the
Corporation, an investor or prospective investor should consider
whether such investment is appropriate to their particular
investment needs, objectives and financial circumstances and
consult an investment advisor if necessary.
- The Official Ribbon Cutting at Buffalo Atlee Wind
- The Capstone Team
Megan Hunter
Capstone Infrastructure Corporation
416-649-1325
mhunter@capstoneinfra.com