Capital Power agreed to acquire Goreway Power Station Holdings, which owns the Goreway Power Station, an 875MW natural gas combined cycle generation facility jointly owned by JERA and Toyota Tsusho, for $387m in total cash consideration and the assumption of $590m debt. The Acquisition is expected to close in the second quarter of 2019 and is subject to regulatory approvals and other customary closing conditions. "The Goreway facility is an excellent strategic fit to our growth plans given its size, excellent operating history, location, and remaining contract term to 2029," said Brian Vaasjo, President and CEO of Capital Power. "It leverages our significant operating capability and, in combination with our other Ontario natural gas assets, it will provide operating and market synergies over time. With its strategic location in the Greater Toronto Area load centre and the flexibility it can provide, the Goreway facility is an important asset in Ontario's electric system."