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ATCO GROUP AND MICROSOFT ANNOUNCE LONG-TERM RENEWABLE ENERGY POWER PURCHASE AGREEMENT
ATCO GROUP AND MICROSOFT ANNOUNCE LONG-TERM RENEWABLE ENERGY POWER PURCHASE AGREEMENT ...
About this update from Canadian Utilities Limited Class A
[{"type":"text","content":"\n \n \n \n ATCO GROUP AND MICROSOFT ANNOUNCE LONG-TERM RENEWABLE ENERGY POWER PURCHASE AGREEMENT\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 April 19, 2022\n \n \n /CNW/ -\n \n ATCO Ltd.\n \n \n (TSX: ACO.X) (TSX: ACO.Y) / Canadian Utilities Limited (TSX: CU) (TSX: CU.X)\n \n \n \n \n \n \n \n \n \n \n The ATCO Group, through its investment in Canadian Utilities Limited, today announced that it has entered into a 15-year power purchase agreement with Microsoft Corporation. Under the terms of the agreement, Microsoft will purchase all renewable energy generated by ATCO's Deerfoot solar facility in\n \n Calgary, Alberta\n \n . Once operational, the Deerfoot solar facility will be one of the largest solar installations in a major urban centre in\n \n Western Canada\n \n , contributing to ATCO's goal of owning, developing or managing more than 1,000 megawatts (MW) of renewable energy by 2030.\n \n \n \"This agreement represents ATCO's desire to be a leader in decarbonization and enable the energy transition for our customers,\" said\n \n Bob Myles\n \n , Executive Vice President, Corporate Development, ATCO. \"We're very pleased to work with Microsoft to achieve our shared objectives around renewable energy. Our focus, in a transitioning world of energy is to provide energy in a safe, affordable and reliable manner.\"\n \n \n \"Renewable energy supply contracts like this agreement with ATCO are key to meeting\n \n our goal of contracting 100% of our energy consumption with renewable sources by 2025\n \n .\" said\n \n Kevin Peesker\n \n , President, Microsoft Canada. \"This agreement with ATCO is an important step in helping Microsoft deliver on our renewable energy commitments in\n \n Canada\n \n .\n \n \n Located within the\n \n City of Calgary\n \n , the 37-MW Deerfoot solar project is adjacent to ATCO's 27-MW Barlow project. Construction for both projects is set to begin later this spring, with energization in the fourth quarter of 2022. Combined, the facilities will generate enough renewab...