News Release

Capstone Infrastructure Corporation Announces the Acquisition of a 132 MWac Solar Development Project in Alberta

TORONTO, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the "Corporation" or "Capstone") is pleased to announce it acquired a 51% interest in the 132 MWac Claresholm Solar Project from Perimeter Solar Inc. (“Perimeter”). The remaining 49% interest is indirectly held by Denmark-based Obton A/S (“Obton”), a renewable energy investment firm.

The Claresholm Solar Project is located in the Municipal District of Willow Creek, Alberta.  In 2019, the project received regulatory approvals from the Alberta Utilities Commission and executed a 74 MWac power purchase agreement with TC Energy Corporation (TSX, NYSE: TRP) (see https://perimetersolar.ca/news-claresholm-solar-project/). Construction is scheduled to begin in the spring of 2020.

“We are very excited to work alongside Obton and Perimeter to deliver this groundbreaking project, which, when complete, will be Canada’s largest solar facility.  Claresholm is an ideal fit for Capstone as we expand our presence in Alberta and grow our renewables business.” David Eva, Chief Executive Officer, Capstone.

“Obton is extremely pleased with the partnership with Capstone on this very exciting PV project. We are both value-based companies that cherish integrity and honesty, which we see as two of the cornerstones of our collaboration. Realizing this project together will help creating a sustainable energy mix in Southern Alberta.” Anders Marcus, Chief Executive Officer, Obton A/S

"The Perimeter team is very pleased with the sale of the Claresholm Solar Project into the capable hands of Capstone and Obton. Having originated and developed the project to this stage, it is a very rewarding experience for Perimeter to see the project move into the construction phase. We are confident the project will prove its value to the new project owners as well as to the landowners hosting the project and the local community. The project represents many firsts for solar energy in Canada and Alberta, and we eagerly anticipate the project becoming fully operational.” Philipp Andres, Director Business Development, Perimeter.

About Capstone Infrastructure Corporation
Capstone owns and operates, approximately net 541 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.

Notice to Readers
Certain of the statements contained within this document are forward-looking and reflect management's expectations regarding the future growth, results of operations, performance and business of the Corporation based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as "anticipate", "continue", "could", "expect", "may", "will", "intend", "estimate", "plan", "believe" or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions.

The forward-looking statements within this document reflect current expectations of the Corporation as at the date of this document and speak only as at the date of this document. Except as may be required by applicable law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

This document is not an offer or invitation for the subscription or purchase of or a recommendation of securities. It does not take into account the investment objectives, financial situation and particular needs of any investors. Before making an investment in the Corporation, an investor or prospective investor should consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances and consult an investment adviser if necessary.

Contact Information:
Capstone Infrastructure Corporation
Andrew Kennedy
Chief Financial Officer
(416) 649-1300
akennedy@capstoneinfra.com