Capital Power and Manulife Investment completed the acquisition of Midland Cogeneration Venture from OMERS Infrastructure for $894m.

Capital Power, a North American power producer, and Manulife Investment, a wealth and asset management firm, completed the acquisition of Midland Cogeneration Venture, an operator of natural gas-fired combined electrical energy and steam energy generating plant, from OMERS Infrastructure, an investor and asset manager, for $894m. “We think MCV’s importance to Michigan’s power supply will increase as the substantial remaining coal-fired generation continues to be retired. We are proud of the transformation MCV has achieved, including the successful completion of multiple programs that improved operational efficiency and enhanced customer confidence in its energy offering, leading to the extension of key contracts which we believe positions MCV well for many years to come," Tom Frazier, OMERS Infrastructure Managing Director.