Capital Power completes acquisition of the La Paloma facility, anticipates closing the Harquahala facility acquisition mid-February and exchanges subscription receipts into common shares - Seite 2

With the closing of the La Paloma Acquisition having occurred, each Subscription Receipt will be automatically exchanged in accordance with their terms, without payment of additional consideration and without further action on the part of the holders thereof, for one common share of Capital Power (“Common Share”). Trading in the Subscription Receipts is expected to be halted and the Subscription Receipts will be delisted from the TSX at the close of trading today.

Facilities Overview

Located in the U.S. WECC region¹, the Acquisitions are strategically positioned within their markets and create additional growth opportunities for both the Company’s gas-fired and renewable generation businesses. Capital Power intends to leverage its deep knowledge and experience in plant operations to commercially optimize these assets and help drive long-term value as part of its broader fleet. Capital Power’s fleet of flexible and reliable gas-fired generation assets is the 5^th largest in North America² with the addition of the Acquisitions and the recently closed Frederickson 1 Generating Station acquisition.

	La Paloma	Harquahala
Nameplate Capacity:	1,062 MW	1,092 MW
Location:	Kern County, California	Maricopa County, Arizona
Commercial Operation Date:	2003	2004
Commercial Arrangement:	Resource adequacy contracts through 2029 with multiple investment grade utilities and load serving entities	100% contracted tolling agreement through 2031 with an investment grade utility
Equipment:	4 Alstom GT24B CTs 4 Alstom/CE HRSGs 4 Alstom VAX STs	3 Siemens 501G CTS 3 Nooter/Erikson HRSGs 3 Siemens STs
Availability3:	93.7%	98.8%
Natural Gas Source:	Mojave Pipeline Company LLC	El Paso Natural Gas Company LLC
Interconnection:	PG&E	SRP; existing unutilized interconnection capacity includes 1,100 MW at the Hassayampa substation
Site:	443 acres total with 412 acres available for development	640 acres total with 496 acres available for development