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Capital Power reports strong first quarter results and expects 2021 results to exceed annual financial guidance Quarterly results confirm the robustness of the Alberta power market


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The operational and financial highlights in this press release should be read in conjunction with the Management’s Discussion and Analysis and the unaudited condensed interim financial statements for the three months ended March 31, 2021.
Earnings before net finance expense, income tax expense, depreciation and amortization, impairments, foreign exchange gains or losses, finance expense and depreciation expense from joint venture interests, gains or losses on disposals and unrealized changes in fair value of commodity derivatives and emissions credits (adjusted EBITDA), normalized earnings attributable to common shareholders, normalized earnings per share, adjusted funds from operations (AFFO) and AFFO per share are non-GAAP financial measures and do not have standardized meanings under GAAP and are, therefore, unlikely to be comparable to similar measures used by other enterprises. See Non-GAAP Financial Measures. ....

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Capital Power named one of the 2021 World's Most Ethical Companies® by Ethisphere Toronto Stock Exchange:CPX


Capital Power named one of the 2021 World’s Most Ethical Companies® by Ethisphere
February 23, 2021 09:00 ET
| Source:
Capital Power Corporation
Capital Power Corporation
Edmonton, Alberta, CANADA
EDMONTON, Alberta, Feb. 23, 2021 (GLOBE NEWSWIRE) Capital Power Corporation (TSX: CPX) has been recognized by the Ethisphere Institute as one of the 2021 World’s Most Ethical Companies®. Honoured for a third straight year, Capital Power is one of only four Canadian companies recognized, and one of nine Energy and Utilities companies worldwide.
“As we advance low-carbon electricity solutions to responsibly and reliably power our communities, we recognize that upholding high ethical standards and responsible business practices shapes and sustains our business – now and into the future as we innovate to be net carbon neutral by 2050,” said Brian Vaasjo, President and CEO of Capital Power. “We’re ....

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Capital Power accelerating plans towards a low carbon future


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Capital Power is proceeding with its plans to repower Genesee units 1 and 2 located in Alberta. A summary of the project:
Expected capital cost of $997 million with project returns expected to exceed the Company’s hurdle rates and contributing approximately $0.70 in annual adjusted funds from operation (AFFO) per share on average in the first five full years,
Provides additional 560 megawatts of net capacity totalling 1,360 MW,
Simple cycle units will be completed first, allowing the units to run in simple cycle mode before the expected completion of the repowering of unit 1 in 2023 and unit 2 in 2024, avoiding any downtime,
Utilizing best-in-class natural gas combined cycle technology from Mitsubishi, ....

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