Atco seals 37-MW solar PPA in Canada with Microsoft

Canadian diversified group Atco Ltd (TSE:ACO.X), through its interest in Canadian Utilities Inc (TSE:CU), has signed an offtake contract with Microsoft Corp (NASDAQ:MSFT) under which the technology major will buy the entire output of a 37-MW solar park in the western part of the country.

The newly-signed power purchase agreement (PPA) is linked to the Deerfoot solar plant in the City of Calgary, Alberta, and will run for 15 years. The facility will be built next to ATCO's 27-MW Barlow project, with construction for both scheduled to start this spring. Completion is planned for the final quarter of the year.

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"Renewable energy supply contracts like this agreement with ATCO are key to meeting our goal of contracting 100% of our energy consumption with renewable sources by 2025," said Kevin Peesker, president of Microsoft Canada.

ATCO is pursuing its own goal of owning, developing or managing more than 1,000 MW of renewable energy by 2030.