The Globe and Mail reports in its Thursday edition that Capital Power chief executive officer Avik Dey stated that a key focus in the coming months will be integrating two upcoming U.S. natural gas power plants. A Canadian Press dispatch to The Globe reports that the company announced a $3-billion deal to buy the Hummel power station in Pennsylvania and the Rolling Hills station in Ohio, expected to close in the third quarter. During a conference call discussing first quarter results, an analyst inquired Mr. Dey about potential future acquisitions. He said: "We will continue looking at opportunities. 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." The acquisition gets Capital
Power a foothold in what is known as the Pennsylvania-New Jersey-Maryland Interconnection market, which it says is the largest and most attractive market in
North America. On the call, Mr. Dey said natural gas generation has been growing in the United States for the past 25 years -- through three recessions and despite a surge in renewable power. For a decade, it has been the top source of U.S. power generation, he added.
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