Consolidation These consolidated financial statements are primarily made up of the assets, liabilities and results of operations of the Corporation's subsidiaries, which the Corporation controls; control is presumed to exist when the Corporation holds more than 50% of the voting power of another entity. The following table lists the significant subsidiaries of the Corporation which are accounted for on a consolidated basis: (1) On May 10, 2012, Capstone sold a 20% interest in Bristol Water resulting in a 50% retained interest. Capstone continues to consolidate as Capstone still exercises control over Bristol Water. The Corporation accounts for its controlled investments using the consolidation method of accounting from the date control is obtained and  deconsolidates from the date that control ceases. All intercompany balances and transactions have been eliminated on consolidation. Non-controlling interests represent equity interests in subsidiaries owned by outside parties. The share of net assets of subsidiaries attributable to non-controlling interests is presented as a component of equity. Their share of net income and comprehensive income is recognized directly in  equity. Changes in the Corporation's interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. Companies in which the Corporation has the ability to exercise significant influence, but not control, over financial and operating policy decisions are accounted for using the equity method; significant influence is presumed to exist when the Corporation holds between 20% and 50% of the voting power of another entity. Equity Accounted Investments 58 CAPSTONE INFRASTRUCTURE CORPORATION Principal place of business and country of incorporation Ownership at December 31, Name of entity 2013 2012 Principal activity Capstone Power Corp. ("CPC") Canada 100% 100% Power holding company Renewable Energy Developers Inc. ("ReD") Canada 100% Nil Power holding company Cardinal Power of Canada, L.P. (“Cardinal”) Canada 100% 100% Power generation Erie Shores Wind Farm Limited Partnership ("Erie Shores") Canada 100% 100% Power generation MPT Hydro LP ("Hydro") Canada 100% 100% Power generation Whitecourt Power Limited Partnership ("Whitecourt") Canada 100% 100% Power generation Helios Solar Star A-1 Partnership (“Amherstburg”) Canada 100% 100% Power generation Confederation Power Inc. ("Confed") Canada 100% Nil Power generation Glace Bay Lingan Wind Power Ltd. ("Glace Bay") Canada 100% Nil Power generation Sky Generation Inc. ("SkyGen") Canada 100% Nil Power generation SP Amherst Wind Power LP ("Amherst") Canada 51% Nil Power generation Capstone Power Development Canada Corp. Canada 100% 100% Development Parc Éolien Saint-Philémon S.E.C. ("Saint-Philémon") Canada 51% Nil Power generation under construction SP Operating Limited Partnership ("SPOLP") Canada 100% Nil Holding company SP Development Limited Partnership ("SPDLP") Canada 100% Nil Development operations MPT Utilities Corp. Canada 100% 100% Utilities holding company MPT Utilities Europe Ltd. Canada 100% 100% European utilities holding company Bristol Water plc and group companies (collectively “Bristol Water”) United Kingdom 50% 50% (1) Regulated water utility NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS