Capital Power completed the acquisition of La Paloma and a stake in Harquahala from CSG Investments for $1.1bn.

Capital Power, a North American independent power generation company, completed the acquisition of La Paloma, a company which owns the 1,062 MW La Paloma natural gas-fired generation facility in Kern County, California, and a stake in Harquahala, a company which owns the 1,092 MW Harquahala natural gas-fired generation facility in Maricopa County, Arizona, from CSG Investments, a global buy-and-hold institution, for $1.1bn. BlackRock participated in the acquisition of Harquahala. “Capital Power’s acquisition of La Paloma and the partnership in Harquahala’s gas generation assets marks a significant milestone in our strategic growth. These plants are well positioned to bolster our current portfolio and align with our commitment to providing reliable, affordable power solutions that support a balanced approach to the energy transition. This acquisition further unlocks an interesting market opportunity in WECC, where we can play a leading role in supporting the shift to low-carbon energy solutions through offering reliable generation while we grow our own renewables fleet. Lastly, this transaction underscores our dedication to delivering long-term value to our shareholders and advancing our position as a leader in the power generation sector,” Avik Dey, Capital Power President and CEO.