The chief executive of Capital Power Corp. said a key focus in the months ahead will be digesting two soon-to-be purchased U.S. natural gas power plants.
The Edmonton-based power generator announced a $3-billion deal earlier this month to buy the Hummel power station in Pennsylvania and the Rolling Hills station in Ohio. Both are owned by subsidiaries of LS Power Equity Advisers LLC and the purchase is expected to close in the third quarter.
On a conference call Wednesday to discuss Capital Power’s first-quarter results, an analyst asked CEO Avik Dey whether more acquisitions are on the horizon.
“We will continue looking at opportunities,” Dey replied. “But make no mistake—the priority for this year will be to, one, close the transaction and to integrate these two assets in particular because we’re in a new market.”…