BlackRock-backed Capital Power Corporation, a Canadian independent power producer, has announced an agreement to acquire two natural gas-fired power plants in the United States for a total of $1.1 billion.
This strategic move will position Capital Power as one of the largest generators in North America. Under the terms of the deal, Capital Power will form a 50/50 partnership with BlackRock to purchase the Harquahala generating facility in Arizona.
In addition, the Canadian company will also acquire the La Paloma generating facility
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