Capstone Infrastructure Corporation has bulked up its wind power business, acquiring publicly traded Sprott Power Corporation for C$70 million (€51 million; $66 million), according to a press release.
Toronto-headquartered Capstone said the purchase would accelerate its “entry into renewable power development” as well as add to its “renewable power footprint in Canada”.
Sprott Power, which the press release said had been re-branded to Renewable Energy Developers (ReD), has a 95-megawatt (MW) wind power portfolio. Jeff Jenner, president and chief executive officer of ReD in Toronto, did not respond to a voicemail message.
Capstone and ReD possess a combined 495MW power generation portfolio, according to Capstone, a publicly traded company on the Toronto Stock Exchange.
In 2011 Capstone, then known as Macquarie Power Infrastructure Corporation, spun out from Macquarie Group.