Short Bio

Andrew Kennedy is Chief Financial Officer and a director of Capstone Infrastructure Corporation, a Canadian clean and renewable independent power producer. Over a decade as CFO, he has helped more than double the business, raise over $2 billion in financing, and structure Indigenous partnerships for clean power projects across Canada. He was named Energy Transition CFO of the Year in 2024 and one of Toronto's Top 25 CFOs in 2023. A CPA Ontario member since 2003, he serves on Council and its Finance and Audit Committee and previously chaired the Audit Committee of Southlake Regional Health Centre Foundation.

Detailed Bio

Voluntary work with CPA Ontario or other professional bodies:

Andrew currently serves on CPA Ontario Council and its Finance and Audit Committee. His contribution has focused on practical governance, financial oversight, and issues that matter to members and the public, including CPA Ontario’s tax advocacy through the Tax Reform for Growth in Canada initiative and supported committee work where practical member experience is important.

Career achievements:

Andrew is the Chief Financial Officer of Capstone Infrastructure Corporation. He joined Capstone in 2010 as Vice President, Finance, became CFO of Capstone Power Corp. in 2016, and was appointed CFO of the public company in 2017, with concurrent responsibility as a board member.

In that role, he has helped lead Capstone’s transition from a broader infrastructure and utilities business into a focused clean and renewable independent power producer. That work has required disciplined capital allocation, long-term planning, risk management, and the ability to make decisions in markets where regulation, financing conditions and customer needs continue to change. Over the past nine years, Capstone has more than doubled its renewables business and built a platform for continued growth.

A significant part of that work has been building Indigenous partnerships, which require trust, clear alignment of interests and a long-term view of shared value.

Andrew has also led financing and investor processes that supported Capstone’s growth while maintaining a focus on prudent leverage, downside protection, and credibility with lenders and partners. He brings that same practical, risk-aware perspective to Council, including on emerging issues such as AI and technology in finance, where he has continued to build capability through the AI Finance Club and AI Pathways program.

His experience is directly relevant to CPA Ontario’s mandate: protecting the public interest, maintaining confidence in the profession, and ensuring that CPAs remain relevant as business models, reporting expectations and technology evolve.

Selected achievements include:

• Structured several Indigenous partnerships for clean power projects across Canada.
• Raised more than $2 billion in financing over the past decade, including the award-winning Claresholm Solar financing, then Canada’s largest solar project and a first-of-its-kind transaction in the Canadian market.
• Closed award-winning financing for the 192 MW Wild Rose 2 Wind Farm, Capstone’s largest project to date and the first in Canada to combine the Clean Technology Investment Tax Credit with construction-to-term financing.
• Supported customers in meeting decarbonization and climate objectives through contracted renewable energy solutions.
• Built a foundation in public accounting at Ernst & Young, serving manufacturing clients from owner managed businesses to large Canadian public companies.

Other professional accomplishments:

Awards and Recognitions:

• Energy Transition CFO of the Year for 2024 (Acquisition International)
• Named one of The Top 25 CFOs of Toronto for 2023 (Finance & Investing)
• Proximo financing Awards:
  • North American Onshore Wind Deal of the Year Award (2025)
  • North American Solar Deal of the Year (2021)
• CPA Canada Award of Excellence in Corporate Reporting – Clean Technology (2013 and 2015)

Other voluntary service and recognition:

Board member and Audit Committee chair at Southlake Regional Health Centre Foundation (2010–2015).

Candidate statement

Why are you interested in joining Council?

I am seeking re-election to continue serving a profession that has shaped my career and supported my family for more than two decades.

Council’s work matters because trust in the profession cannot be assumed. It has to be earned through sound judgment, credible oversight and practical decisions. As a CFO, public-company director, current Council member and member of the Finance & Audit Committee, I would bring continuity, governance experience and a business perspective to that work.

How do your experiences align with the following skills, attributes and experiences that have been prioritized for incoming members of Council?

• Strategic and Transformational Leadership
• Emerging Technologies
• Board Experience and Governance
• Business Acumen

My CPA career has combined public practice, corporate leadership and board service, with increasing responsibility across governance, finance, risk and strategy. On CPA Ontario Council and its Finance & Audit Committee, I have contributed to the profession’s tax advocacy and supported committee work where practical member experience is important.

Since 2017, I have served as CFO of Capstone Infrastructure Corporation and as a member of its board. During that time, we have more than doubled the business, secured more than $2 billion in financing, and built a significant development pipeline. That work has required strategic and transformational leadership, including entering new markets, expanding into new technologies and building partnerships that support reconciliation with Canada’s First Nations.

As CFO of a public company active in the North American energy transition, I was recognized as Energy Transition CFO of the Year in 2024 and one of the Top 25 CFOs of Toronto in 2023. My role spans strategy, finance, accounting and tax, risk management, information systems, partnerships and governance. I understand the demands placed on finance professionals as organizations grow, risk increases and technology changes how work is done. I have also engaged directly with emerging technologies, including earning the “AI Pathways: Energizing Canada’s Low-Carbon Workforce” certification and joining the AI Finance Club. That perspective is relevant as CPA Ontario helps members adapt without losing sight of judgment, ethics and public trust.

My work in renewable energy began before ESG became common business language. It has reinforced the importance of reliable information, disciplined capital allocation and governance that can withstand scrutiny.

What is the greatest opportunity and challenge facing the accounting profession and CPA Ontario?

The greatest opportunity and challenge are closely linked: CPAs must remain trusted when the pace of change is accelerating. The main pressure points are:

• Technology: AI and cyber risk are changing how work is performed, reviewed and governed.
• Regulation: Standards and guidance must protect the public interest while remaining practical for members and businesses.
• Reporting expectations: Investors, regulators and the public want information they can rely on, including on sustainability and other non-financial matters.
• Member relevance: CPA Ontario must help members and students build the technical capability, judgment and confidence needed to stay relevant.
• Council should respond with discipline: Focus on the public interest, listen to members, avoid unnecessary complexity and support guidance that works in practice.