OAKVILLE, ON, Dec. 4, 2018 /CNW/ - Algonquin Power &
Utilities Corp. ("APUC" or "the Company") (TSX/NYSE: AQN)
announced that it held its ninth annual Analyst and Investor Day
event today in Toronto.
During the event, APUC provided an overview of its current
operations, general business developments, as well as its outlook
for future growth.
"It has been a year of tremendous accomplishments as we invested
over $1 billion of capital and
expanded our capital program for the next five years to
$7.5 billion," said Ian Robertson, Chief Executive Officer of APUC.
"Our new five year capital program is highly visible and includes a
$4.9 billion organic investment
program within our regulated utility business. We have also
expanded our international development platform through AAGES, and
added new renewable energy development projects to our five year
capital program. "
Highlights of APUC's 2018 Analyst and Investor Day
Events
During the event, senior management from APUC provided updates
on the progress made in the areas of operational
excellence, expanding its renewable energy opportunity set, and
sustainable growth in its utility operations. Specific
highlights include:
- A five year capital plan of $7.5
billion for 2019 through 2023.
- Reaffirmed five year target EPS CAGR of 10%.
- An expanded regulated utility growth program over the next 5
years of $5.3 billion, with
$4.9 billion in organic capital in
the regulated utility business for Greening the Fleet, grid
modernization, system reliability and an enhanced customer
experience.
- Updates related to the non-regulated $1.7 billion renewable energy development
pipeline of nine projects with a combined name plate generation
capacity of 957 MW.
- Acquisition of New Brunswick Gas for C$331 million, serving approximately 12,000
customers in the province of New
Brunswick.
- Continued growth of its international business through the
previously disclosed ATN3 transmission project located in
Peru, and focus on potential
opportunities involving international renewables, transmission, and
water infrastructure projects.
APUC is hosting an encore presentation of its annual Analyst and
Investor Day event in New York
City on December
5th, 2018 for the benefit of U.S. investors and
analysts. Those wishing to view the presentation materials can do
so at www.algonquinpower.com.
All dollar amounts referenced herein are in U.S. dollars unless
otherwise noted.
About Algonquin Power & Utilities Corp.
APUC is a
diversified generation, transmission and distribution utility with
approximately $9 billion of
total assets. Through its two business groups, APUC provides rate
regulated natural gas, water, and electricity generation,
transmission, and distribution utility services to over 766,000
connections, and is committed to being a global leader in the
generation of clean energy through its ownership of, or interest
in, long term contracted wind, solar and hydroelectric generating
facilities representing approximately 1.7 GW of installed capacity.
With a team of over 2,300 talented employees, APUC delivers
continuing growth through an expanding pipeline of renewable energy
development projects, organic growth within its rate regulated
generation, distribution and transmission businesses, and the
pursuit of accretive acquisitions. APUC's common shares, Series A
preferred shares and Series D preferred shares are listed on the
Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and
AQN.PR.D, respectively. APUC's common shares and Series A
subordinated notes are also listed on the New York Stock Exchange
under the symbols AQN and AQNA.
Visit APUC at www.algonquinpower.com and follow us on
Twitter @AQN_Utilities.
Caution Regarding Forward-Looking Information
Certain statements included in this news release contain
information that is forward-looking within the meaning of
applicable securities laws, including information and statements
regarding future capital investments and growth strategies, ongoing
and potential future acquisitions and their anticipated benefits
and APUC's prospective results of operations, growth rate,
financial position or cash flows. These statements are based on
factors or assumptions that were applied in drawing a conclusion or
making a forecast or projection, including assumptions based on
historical trends, current conditions and expected future
developments. Since forward-looking statements relate to future
events and conditions, by their very nature they require making
assumptions and involve inherent risks and uncertainties. APUC
cautions that although it is believed that the assumptions are
reasonable in the circumstances, these risks and uncertainties give
rise to the possibility that actual results may differ materially
from the expectations set out in the forward-looking statements.
Material risk factors include those set out in the management's
discussion and analysis section of APUC's most recent annual
report, quarterly report, and APUC's Annual Information Form. Given
these risks, undue reliance should not be placed on these
forward-looking statements, which apply only as of their dates.
Other than as specifically required by law, APUC undertakes no
obligation to update any forward-looking statements or information
to reflect new information, subsequent or otherwise.
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SOURCE Algonquin Power & Utilities Corp.