ATCO Grows Renewable Energy Portfolio With Major Acquisition From Suncor

Canadian Utilities Limited, an ATCO company, announced it has entered into a definitive agreement with Suncor Energy Inc., to acquire a portfolio of wind and solar assets and projects located in Alberta and Ontario for a purchase price of $730 million, subject to closing adjustments.

Bennett Jones is acting for Canadian Utilities Limited.

The acquisition:

• includes 252 MW suite of operational wind facilities and 1,500+ MW development pipeline of wind and solar projects; and
• advances ATCO's growing leadership in renewables and clean fuels and puts ATCO on trajectory to achieve its target of owning, developing or managing 1,000 MW of renewable energy by 2030.

The Bennett Jones deal team is led by Luke Morrison (Corporate/Energy) and includes Ashley White (Corporate/Energy), Will Osler (Corporate/Securities), Julia Pasieka and Sydney Olsen (Corporate/Commercial), John Gilmore and Susan Seller (Employment/Pensions), Denise Bright (Finance), Deirdre Sheehan (Regulatory), Alixe Cameron, Samantha Lush and Michael Ramsay (Real Estate), and Kyle Donnelly (Competition).

More details on the acquisition are available here.