Business
Liberty and Meta announce expansion of renewables partnership to include 112 MW Deerfield II wind project in Michigan
Liberty and Meta announce expansion of renewables partnership to include 112 MW Deerfield...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n \n \n \n Liberty and Meta announce expansion of renewables partnership to include 112 MW Deerfield II wind project in Michigan\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Solar and wind facilities advancing both companies' sustainability goals\n \n \n \n \n \n OAKVILLE, ON\n \n \n ,\n \n \n May 10, 2022\n \n \n /CNW/ -\n \n Liberty\n \n , a part of Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) (\"Algonquin\"), announced today its collaboration with Meta (NASDAQ: FB) on the new 112 MW Deerfield II wind project in\n \n Michigan\n \n . This long-term power purchase agreement (PPA) for 100 percent of the energy and environmental attributes from Deerfield II, builds upon the existing renewable energy partnership the companies have at the operating\n \n Altavista\n \n solar facility in\n \n Virginia\n \n . The Deerfield II wind project is expected to contribute to\n \n Liberty's\n \n ESG goals and help Meta continue to support its operations with 100% renewable energy. The project is expected to achieve commercial operations in 2023.\n \n \n \n \n \n \n \n \n \n Located in\n \n Huron County, Michigan\n \n , adjacent to\n \n Liberty's\n \n Deerfield I wind facility, the Deerfield II wind project represents a significant opportunity to advance the growth of\n \n Michigan's\n \n renewable electricity supply, while supporting\n \n Liberty\n \n and Meta's sustainability objectives. The project represents an investment of approximately\n \n $200 million\n \n for\n \n Liberty\n \n and is expected to:\n \n \n \n Provide approximately\n \n $2 million\n \n per year in property tax revenue\n \n \n Support local schools, roads and various care facilities\n \n \n Inject capital into the community by compensating local landowners\n \n \n Create 200 temporary and permanent jobs for workers\n \n \n \n \n Jeff Norman\n \n , Chief Development Officer for Algonquin, commented: \"Wind and solar energy investments are critical streams within our growth program, and we're very pleased to be able to e...