Algonquin Power to buy 600 MW of US wind assets

Wind farm. Author: Samir Luther. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

June 21 (Renewables Now) - Canadian renewable energy company Algonquin Power & Utilities Corp (TSX:AQN), or APUC, announced on Thursday that it has received approval to acquire 600 MW of wind power generating capacity in the US.

The company’s regulated utility business, Liberty Utilities, has obtained certificates of convenience and necessity (CC&N) to acquire, upon their completion, three wind farms located in Barton, Dade, Lawrence and Jasper Counties in Missouri and in Neosho County, Kansas. The CC&Ns enable the start of construction work on the projects to occur in the third quarter of the year. Completion is scheduled for end-2020.

Algonquin refers to these assets as the Customer Savings Plan, which, it says, will lead to the investment of more than USD 1.1 billion (EUR 975m).

"The addition of 600 MW of wind energy to displace fossil-based energy sources will not only provide cost-saving benefits to our Midwest electric utility customers but will also deliver other significant economic and environmental benefits,” commented Ian Robertson, CEO of APUC.

(USD 1.0 = EUR 0.886)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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