- Atco Ltd. (ACO.X) signed an agreement with Microsoft Corporation
- Through its subsidiary Canadian Utilities Limited (CU), Atco also closed a $713 million acquisition
- The acquisition was for wind and solar assets and projects in Alberta and Ontario from Suncor Energy Inc.
- Atco signed a new 15-year renewable energy purchase agreement for Microsoft to purchase 150 megawatts of energy generated by the Forty Mile Wind project
- Atco Ltd. (ACO.X) is up 0.62 per cent trading at $42.45 per share as of 11:24 a.m. EST
- Canadian Utilities Limited (CU) is up 0.16 per cent trading at $36.80 per share as of 11:25 a.m. EST
Atco Ltd. (ACO.X) signed a new purchase agreement with Microsoft Corporation.
Through its subsidiary Canadian Utilities Limited (CU), Atco also closed a $713 million acquisition for wind and solar assets and projects in Alberta and Ontario from Suncor Energy Inc.
Alongside the transaction, Atco signed a new 15-year renewable energy purchase agreement (REPA) for Microsoft to purchase 150 megawatts of renewable energy generated by the company’s newly acquired Forty Mile Wind phase one project in Alberta.
The Forty Mile Wind project is the second REPA Atco has signed in the past year with Microsoft. Back in March, the two companies signed a 15-year REPA for Microsoft to purchase all renewable energy generated by Atco’s Deerfoot Solar Project in Alberta.
Atco stated it has successfully begun operating the 202-megawatt Forty Mile Wind facility as well as the 30-megawatt Adelaide wind facility in Ontario.
Also, existing partners of the Chin Chute and Magrath Wind projects (included in the acquisition) acquired an additional interest in the facilities. As a result, 20 megawatts of capacity was not acquired by Atco.
Atco Ltd. (ACO.X) is up 0.62 per cent trading at $42.45 per share as of 11:24 a.m. EST.
Canadian Utilities Limited (CU) is up 0.16 per cent trading at $36.80 per share as of 11:25 a.m. EST.