10:30 AM EDT, 09/18/2025 (MT Newswires) -- Capital Power ( CPXWF ) Thursday announced the execution of a new long-term contract with improved economic terms for Midland Cogeneration Venture with Consumers Energy, extending to 2040 and providing 10 years of incremental contracted revenue.

The company said that Midland Cogeneration Venture will receive payments for 1,240 MW, approximately 75% of the facility's capacity starting in June 2030 under the new PPA, "creating long-term revenue stability throughout the contract term."

The company expects the contract to generate a gross increase in full year adjusted EBITDA for the facility of approximately US$100 million annually.

"Michigan is an attractive and growing market for electricity," said Capital Power's ( CPXWF ) president and chief executive officer, Avik Dey.

"This contract is an important milestone for Capital Power ( CPXWF ) as it reinforces the critical role efficient natural gas assets like MCV play in maintaining grid reliability as energy demand grows."

The company's shares were last seen up 4.4% to $64.03 on the Toronto Stock Exchange.

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