Capital Power has begun the search for a new president and CEO following the announcement of Brian Vaasjo's retirement from the role.

Vaasjo intends to step down as chief executive of the Alberta-based independent power producer next year and will remain in an advisory role following the appointment of his successor to ensure a smooth leadership transition, according to a company announcement.

“My time at Capital Power has been an incredible experience and I am extremely proud of what we have accomplished as a Company over the last 10 years,” he said in a statement.

He has led the company since its initial public offering in July 2009, having previously worked at predecessor company Epcor.

In recent years, the company has been active in the M&A and project finance markets for both gas-fired and renewable assets, and was named Canada Project Finance Borrower of the Year for 2018 in PFR's 16th Annual Deals and Firms of the Year Awards (PFR, 4/29).

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