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ATCO CLOSES MAJOR CANADIAN RENEWABLES ACQUISITION AND ENTERS INTO A LONG-TERM RENEWABLE ENERGY PURCHASE AGREEMENT WITH MICROSOFT
ATCO CLOSES MAJOR CANADIAN RENEWABLES ACQUISITION AND ENTERS INTO A LONG-TERM RENEWABLE ENERGY PU...
About this update from Atco Ltd. Class I
[{"type":"text","content":"\n \n \n \n ATCO CLOSES MAJOR CANADIAN RENEWABLES ACQUISITION AND ENTERS INTO A LONG-TERM RENEWABLE ENERGY PURCHASE AGREEMENT WITH MICROSOFT\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Jan. 6, 2023\n \n \n /CNW/ -\n \n Canadian Utilities Limited (TSX: CU, CU.X)\n \n \n \n \n \n \n \n \n \n \n ATCO, through its investment in Canadian Utilities Limited, has successfully closed the previously announced acquisition of a portfolio of wind and solar assets and projects located in Alberta and Ontario from Suncor Energy Inc. Concurrent with the close of this acquisition, ATCO entered into a new 15-year renewable energy purchase agreement (REPA) with Microsoft Corporation. Under the terms of the agreement, Microsoft will purchase 150 megawatts (MW) of renewable energy generated by ATCO´s newly acquired Forty Mile Wind Phase 1 Project in\n \n Alberta\n \n .\n \n \n \"Today represents two big steps forward on our commitment to become a leader in decarbonization,\" said\n \n Bob Myles\n \n , Executive Vice President, Corporate Development, ATCO. \"Firstly, with this transaction ATCO adds 232 MW of operating wind assets and a 1.5-gigawatt renewable development portfolio in\n \n Canada\n \n . Secondly, with the 15-year REPA with Microsoft, we have enabled another customer to reduce the carbon intensity of their operations.\"\n \n \n \"Today we are announcing a new power purchase agreement with ATCO for the Forty Mile Wind Phase 1 Project in\n \n Alberta\n \n . This agreement, along with one we announced in\n \n March 2022\n \n , supports our commitment to decarbonization and furthers our goal of being powered by 100% renewable energy by 2025. We look forward to working with ATCO to help us get one step closer to our carbon negative commitment and bring more renewable energy to the grid,\" said\n \n Chris Barry\n \n , President, Microsoft Canada.\n \n \n The Forty Mile Wind Phase 1 project is the second REPA ATCO has signed in the past year with Microsoft. In\n \n March 2022\n \n ...