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The large penetration of renewable energy resources is demanding additional flexibility for the operation of power systems. In this sense, real world applications are proving that wind power units are able to provide part of the required flexibility. Therefore, these new sources of flexibility need to be considered by power system planners in order to make appropriate generation capacity expansion decisions. This paper proposes a generation and storage capacity expansion formulation considering that wind power units are able to participate in the reserve provision service. The proposed model is a stochastic linear program that is solved using a commercial solver. A case study based on the isolated power system of Lanzarote and Fuerteventura in Spain is solved to quantify the impact of considering the reserve provision of wind power in capacity investment decisions. [ABSTRACT FROM AUTHOR]