Capstone Infrastructure Corporation Secures Three Major Wind Projects in British Columbia Alongside Indigenous Partners

By: Capstone Infrastructure Corporation via GlobeNewswire

January 20, 2025 at 16:22 PM EST

Toronto, Ontario, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Today, Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the "Corporation" or "Capstone") is proud to announce the execution of three 30-year Electricity Purchase Agreements with BC Hydro alongside Indigenous partners.

The three wind projects – Brewster, Highland Valley, and Mount Mabel – were selected by BC Hydro in their recent Call for Power and will have a total combined capacity of 537 MW. Together, the projects will generate approximately 1.4 million MWh of electricity annually, enough to power more than 157,000 average British Colombian homes per year.

All projects are Indigenous led partnerships with a 51% equity ownership interest by Wei Wai Kum First Nation (Brewster Wind), Ashcroft Indian Band (Highland Valley Wind), and Lower Nicola Indian Band (Mount Mabel Wind) respectively.

"We’re thrilled to have three projects selected by BC Hydro’s recent renewables procurement. Capstone prides itself on responsible and sustainable development, construction, and operation our projects, while delivering quality jobs and significant economic benefits for local communities and our Indigenous partners,” says David Eva, CEO of Capstone, “and we believe our project partners share this same vision. We’re all looking forward to playing a major role in British Columbia’s clean energy future.”

The selected projects:

Brewster Wind Project: This project is a collaboration between Wei Wai Kum First Nation, located approximately 50 km northwest of Campbell River on Vancouver Island. The wind energy facility will have an nameplate capacity of 197 MW.

“The Brewster Wind Project is a milestone for the Wei Wai Kum Nation, embodying our vision for clean energy and sustainable development. It demonstrates the power of partnerships between Indigenous communities and industry to drive positive change. This project is more than just energy production—it is an opportunity to create jobs, invest in our community, and build economic resilience for generations to come. It will support economic growth and prosperity across the greater Vancouver Island region, addressing the critical need for new power to unlock future projects and investments.”

Chief Christopher Roberts, Wei Wai Kum First Nation

Highland Valley Wind Project: The Project is located approximately 18 km west of the District Municipality of Logan Lake in the Thompson-Nicola Regional District in the Southern Interior. The 197 MW wind energy project is a collaboration between Ashcroft Indian Band and Capstone.

“We welcome the opportunity provided by BC Hydro’s selection of the Highland Valley Wind Project and look forward to working together with our partner, Capstone. This project is a significant advancement in economic reconciliation and marks a new era in Indigenous ownership and control of our resources. We believe that working together is the best course for all of us.”

Chief Greg Blain, Ashcroft Indian Band

Mount Mabel Wind Project: Capstone, in partnership with the Lower Nicola Indian Band, this 143 MW wind energy project is located in the Thompson-Nicola Regional District in the Southern Interior, approximately 25 km northeast of Merritt.

“We are excited about the Mount Mabel Wind Project moving forward - it marks another important step for LNIB’s continued leadership and investment in the energy sector and increased economic self-sufficiency. We look forward to building a strong partnership and world-class renewable energy facility with Capstone, as well as the economic benefits this project will provide for our Nation and the broader community.”

Chief Stuart Jackson, Lower Nicola Indian Band (LNIB)

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About Capstone Infrastructure Corporation

Capstone is generating our low-carbon future, driving the energy transition forward through creative thinking, strong partnerships, and a commitment to quality and integrity in how we do business. A developer, owner, and operator of clean and renewable energy projects across North America, Capstone’s portfolio includes approximately 885 MW gross installed capacity across 35 facilities, including wind, solar, hydro, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.

About Wei Wai Kum First Nation

The Wei Wai Kum First Nation, located in Campbell River, British Columbia, is a member of the Laich-Kwil-Tach group within the Kwakwaka’wakw peoples. With a rich cultural heritage and a commitment to sustainable development, the Nation operates various enterprises contributing to the growth of their community and the economy of the Campbell River Region. Wei Wai Kum offers a diverse portfolio of services including the Discovery Harbour Marina, Laich-Kwil-Tach Environmental Assessments, and Discovery Harbour Shopping Centre. Their vision emphasizes that the “Nation is a healthy, vibrant community that enriches the lives of each citizen economically, intellectually, physically, socially and spiritually, strengthening the wisdom, and cultural values for future generations.”

About Ashcroft Indian Band

Ashcroft Indian Band is a Nlaka’pamux First Nations government and a member band of the Citxw Nlaka’pamux Assembly. The people of the Ashcroft Indian Band have lived in the area, along the shores of the Thompson River in the British Columbia Interior for more than 6000 years. The Ashcroft Indian Band fishes in the same river, and remains firm on the same land Nlaka’pamux have occupied for generations and generations. Ashcroft Indian Band believes in a strong, healthy community where people and traditional values are respected. We are proud of our long history as a First Nations People, but we also believe in progress. We have shown that hard work, good leadership, and an entrepreneurial spirit can improve the lives of the members of the Ashcroft Indian Band.

About the Lower Nicola Indian Band (LNIB)

The Lower Nicola Indian Band is located near Merritt, B.C. and is part of the Nlaka’pamux Nation. With over 1,500 members LNIB is one of the largest Nations in the Southern Interior. LNIB has a long history of combining economic development with stewardship of our traditional lands and resources and protection of our culture, language and traditional knowledge. Through its business arm, LNIB has been an innovator in economic reconciliation and development and has built a portfolio of business ventures which provide opportunities for our members, and which sustainably develop the natural resources located in our traditional territory.

Notice to Readers

Certain of the statements contained within this document are forward-looking and reflect management’s expectations regarding the future growth, results of operations, performance and business of Capstone Infrastructure Corporation (‘Capstone’ or the ‘Corporation’) based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as “anticipate”, “continue”, “could”, “expect”, “may”, “will”, “intend”, “estimate”, “plan”, “believe” or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions.

The forward-looking statements within this document reflect current expectations of the Corporation as at the date of this document and speak only as at the date of this document. Except as may be required by applicable law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

This document is not an offer or invitation for the subscription of or a recommendation of securities. It does not take into account the investment objectives. Financial situation and particular needs of any investors. Before making an investment in the Corporation, an investor or prospective investor should consider whether such investment is appropriate to their particular investment needs, objectives and financial circumstances and consult an investment advisor if necessary

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Megan Hunter
Capstone Infrastructure Corporation
416-649-1325
mhunter@capstoneinfra.com

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Capstone Infrastructure Corporation Secures Three Major Wind Projects in British Columbia Alongside Indigenous Partners

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