ENMAX Corporation reached financial close on Capital Power Corporation's purchase of an initial 25 per cent interest in a joint venture to build and operate the $1.4-billion, 800 MW natural-gas-fueled Shepard Energy Centre. The Shepard Energy Centre will be located near Calgary.
The Shepard Energy Centre will be the lowest-cost, non-cogeneration, natural-gas generator in Western Canada. Capital Power and ENMAX have agreed to financially close on the second 25 per cent tranche by no later than Q1 of 2014.
ENMAX was represented by in-house counsel Jeff Piercy and Megan Cole Reinkens together with a Blake, Cassels & Graydon LLP team led by Peter Keohane that included Jana Prete, Kevin Kerr, Katie Jamieson, Ian Gordon, Michael McIntosh, David Kruse, Paul Singh, Saktish Pillai and Greg Kanargelidis.
Blakes advised on all commercial matters relating to the development of the project. Blakes also advised on ENMAX's commercial joint venture arrangement with Capital Power in that regard.
Capital Power was represented in-house by a team led by Colleen Legge, Senior Counsel, Project Development, together with a team from Heenan Blaikie LLP led by Brian Bidyk that included Allen Garson, Edward Wooldridge, Kerri Howard, James Maclean, Maxine Ethier and Elizabeth Coape-Arnold.