Core Viewpoint - Capital Power has successfully executed a long-term contract with Consumers Energy for the Midland Cogeneration Venture, extending to 2040 and providing 10 years of incremental contracted revenue [1][2]. Group 1: Contract Details - The new Power Purchase Agreement (PPA) will cover 1,240 MW, approximately 75% of MCV's capacity, starting in June 2030, ensuring long-term revenue stability [2]. - The contract is projected to generate an annual gross increase in adjusted EBITDA of approximately US$100 million, representing an 85% increase over current contract pricing [2]. Group 2: Strategic Importance - MCV is recognized as the largest natural gas-fired combined electric and steam generation facility in the U.S. and is crucial for reliable power generation in Michigan [2]. - The contract reinforces the role of efficient natural gas assets like MCV in maintaining grid reliability as energy demand increases [3]. Group 3: Company Positioning - Capital Power is positioned as North America's fifth-largest natural gas Independent Power Producer (IPP) and is focused on strategic partnerships to shape the future of energy [3]. - The company emphasizes the importance of investing in assets that provide stable cash flows and long-term contract extensions with creditworthy counterparties [3].