CALGARY, AB, Sept. 13, 2021 /CNW/ - ATCO Ltd. (TSX:
ACO.X) (TSX: ACO.Y)
ATCO has acquired the Empress Solar Project, a 39 MW
photovoltaic solar facility under development in Alberta, marking another step in ATCO's
commitment to contribute to the decarbonization of the electricity
grid while enabling customers to reduce the carbon intensity of
their energy. Through Canadian Utilities Limited, ATCO acquired the
development rights to the project from a third-party developer.
Financial terms of the agreement are not being disclosed.
"This kind of energy project is a central pillar of ATCO's
strategy, a strategy anchored by our commitment to sustainability
through the production of cleaner fuels, renewable electricity,
energy efficiency and critical energy infrastructure," said
Bob Myles, Executive Vice President,
Corporate Development, ATCO.
In recent months, ATCO completed Canada's largest and most northerly off-grid
solar project, announced a potential world-scale clean hydrogen
project and began work on a renewable natural gas production
facility.
The latest project, located south of the village of Empress near the Alberta-Saskatchewan border, has received its major
permits, with project execution underway and commercial operations
expected in 2022. Electricity from the Empress Solar Project will
be sold into the Alberta power
market and ATCO is currently negotiating with potential off-takers
to contract the facility's output.
Using about 85,000 bifacial solar panels affixed to a
single-axis tracking system, the facility will provide enough
renewable electricity to power more than 11,000 homes annually,
offsetting 43,000 tonnes of carbon a year.
ATCO's Commitment to Sustainability
For ATCO, sustainability is more than an aspiration; it is
interwoven into our strategy, our day-to-day operations, the
products and services we provide, and the fabric of our people. It
manifests across our family of companies in countless ways, both in
how we conduct our day-to-day activities and in the contributions
we make to society through both our operations and the community
spirit of our people. Our enduring and holistic commitment is
clearly reflected in our efforts to cost-effectively and reliably
accelerate the energy transition; enhance our
environmental performance and reduce our greenhouse gas
emissions; champion the safety, inclusivity, and equity
of our people, communities, and customers; foster Indigenous and
community partnerships based on trust, equity and mutual
respect; and ensure uninterrupted, resilient, and reliable
access to essential products and services—anytime,
anywhere.
With approximately 6,200 employees and assets of $22 billion, ATCO is a diversified global
corporation with investments in the essential services of
Structures & Logistics (workforce and residential housing,
innovative modular facilities, construction, site support services,
workforce lodging services, facility operations and maintenance,
defence operations services, and disaster and emergency management
services); Utilities (electricity and natural gas transmission and
distribution, and international electricity operations); Energy
Infrastructure (electricity generation, energy storage and
industrial water solutions); Retail Energy (electricity and natural
gas retail sales); Transportation (ports and transportation
logistics); and Commercial Real Estate. More information can be
found at www.ATCO.com.
Forward-Looking Information:
Certain
statements contained in this news release may constitute
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as
"anticipate", "plan", "estimate", "expect", "may", "will",
"intend", "should", and similar expressions.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information.
The Company's actual results could differ materially from
those anticipated in this forward-looking information as a result
of regulatory decisions, competitive factors in the industries in
which the Company operates, prevailing economic conditions
(including as may be affected by the COVID-19 pandemic), and other
factors, many of which are beyond the control of the
Company.
The Company believes that the expectations reflected in the
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied
upon.
Any forward-looking information contained in this news
release represents the Company's expectations as of the date
hereof, and is subject to change after such date. The Company
disclaims any intention or obligation to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, except as required by applicable
securities legislation.
SOURCE ATCO Ltd.