OAKVILLE, ON, June 20, 2019 /PRNewswire/ - Algonquin Power
& Utilities Corp. ("APUC" or the "Company")
(TSX/NYSE:AQN) is pleased to announce that its regulated
utility business, Liberty Utilities, today received certificates of
convenience and necessity ("CC&N") to acquire, once completed,
three wind farms generating up to 600 megawatts of wind energy
located in Barton, Dade, Lawrence, and Jasper Counties in Missouri and in Neosho County, Kansas. Collectively these
projects are referred to as the Customer Savings Plan.
Receipt of the CC&N allows construction to commence on the
three wind generation sites. Construction of the wind farms is
expected to begin in the third quarter of 2019 and to be completed
by the end of 2020. The Customer Savings Plan is expected to result
in the investment of more than U.S. $1.1 billion, while
reducing energy costs for customers over the life of the
project.
"The receipt of the CC&Ns is an important milestone in the
implementation of the Customer Savings Plan," said Ian Robertson, Chief Executive Officer of
APUC. "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. Initiatives such as the Customer Savings Plan are
important in the transition of our supply mix to clean energy
sources and underpin APUC's commitment to contribute meaningfully
to a sustainable energy future."
About Algonquin Power & Utilities Corp.
APUC is a diversified international generation, transmission and
distribution utility with approximately U.S. $10 billion of total assets. Through its two
business groups, APUC is committed to providing safe, reliable and
cost effective rate-regulated natural gas, water, and electricity
generation, transmission and distribution utility services to
nearly 800,000 connections in the United
States and Canada, and is a
global leader in renewable energy through its portfolio of
long-term contracted wind, solar and hydroelectric generating
facilities representing over 2.5 GW of net installed capacity and
more than 500 MW of incremental renewable energy capacity under
construction. APUC delivers continuing growth through an
expanding global pipeline of renewable energy, electric
transmission, and water infrastructure 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. APUC's common
shares, Series 2018-A subordinated notes and Series 2019-A
subordinated notes are listed on the New York Stock Exchange under
the symbols AQN, AQNA and AQNB.
Visit APUC at www.algonquinpowerandutilities.com and
follow us on Twitter @AQN_Utilities.
Caution Regarding Forward-Looking Information
Certain statements included in this news release constitute
''forward-looking information'' within the meaning of applicable
securities laws in each of the provinces of Canada and the respective policies,
regulations and rules under such laws and ''forward-looking
statements'' within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, ''forward-looking
statements"). The words "will", "expects", "intends", "estimates"
and similar expressions are often intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Specific
forward-looking statements contained in this news release include,
but are not limited to expectations regarding: commencement and
completion of construction of the wind projects comprising the
Customer Savings Plan; the anticipated capital investment and
effect on Empire's rate base; and expected customer savings and
environmental benefits. 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 APUC's most recent annual and interim management's
discussion and analysis and most recent 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 to reflect new
information, subsequent or otherwise.
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content:http://www.prnewswire.com/news-releases/algonquin-power--utilities-corp-receives-approval-for-construction-of-600-mw-of-wind-generation-in-missouri-and-kansas-300872264.html
SOURCE Algonquin Power & Utilities Corp.