Algonquin Power & Utilities Corp. is a Canadian
renewable energy and regulated utility conglomerate with assets across North America. Algonquin actively invests in
hydroelectric, wind and
solar power
Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Photovoltaic cells convert light into an electric current using the photovolta ...
facilities, and utility businesses (water, natural gas, electricity), through its three operating subsidiaries:
Bermuda Electric Light Company, Liberty Power and Liberty Utilities.
Public listing
Algonquin Power Income Fund was established in September 1997 and first listed its trust units on the
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...
on December 23, 1997. Having raised nearly $75 M, Algonquin used $27.5 M to purchase 14 hydroelectric generation facilities located in
Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central C ...
,
Québec,
New York and
New Hampshire
New Hampshire is a state in the New England region of the northeastern United States. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Gulf of Maine to the east, and the Canadian province of Quebec to the nor ...
.
Algonquin Power & Utilities Corp. was added to the TSX 60 Index on June 22, 2020.
Incorporation
In response to the
Government of Canada
The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown ...
's decision to end the preferential tax treatment of
income trusts
An income trust is an investment that may hold equities, debt instruments, royalty interests or real properties. They are especially useful for financial requirements of institutional investors such as pension funds, and for investors such as retir ...
, Algonquin Power Income Fund was converted to a corporation in October 2009. Unit-holders exchanged their trust units on a one-for-one basis for shares in the new corporate entity, Algonquin Power & Utilities.
Liberty Utilities
Liberty Utilities operates in the following locations:
*Arizona (water)
**acquired Boulders Carefree Sewer Company in
Carefree in 2001.
**acquired Gold Canyon Sewer Company in
Gold Canyon in 2001
**acquired Bella Vista Water in
Sierra Vista
Sierra Vista is a city in Cochise County, Arizona, United States. According to the 2020 Census, the population of the city is 45,308, and is the 27th most populous city in Arizona. The city is part of the Sierra Vista-Douglas Metropolitan Are ...
in 2002.
**acquired Litchfield Park Service Company in
Avondale from
Pinnacle West Capital in 2003
**acquired Rio Rico Utilities in
Rio Rico in 2005
**acquired seven water companies in
Whetstone and
Hereford from the John McLain bankruptcy estate in 2007.
**acquired Entrada Del Oro Sewer Company, near
Gold Canyon, in 2008.
*Arkansas (water)
**Acquired the Arkansas operations of
United Water
Suez North America, founded as the Hackensack Water Company in 1869 and later named United Water, is an American water service company headquartered in Paramus, New Jersey. It owns and operates 16 water and waste water utilities, and operates 9 ...
in 2012.
**Acquired natural gas, water and electric distribution operations of
Empire District Electric Company in 2017.
*California (electricity, water)
**Acquired
NV Energy
NV Energy is a public utility which generates, transmits and distributes electric service in northern and southern Nevada, including the Las Vegas Valley, and provides natural gas service in the Reno–Sparks metropolitan area of northern Nevada ...
's California operations, serving the Lake Tahoe Basin, with
Emera
Emera Incorporated is a publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia. Created in 1998 during the privatization of Nova Scotia Power, a provincial Crown corporation, Emera now invests in regulated ele ...
in 2009; bought out Emera's stake in 2011.
**Acquired Park Water and Apple Valley Ranchos Water, serving Southern California, in 2016 from
The Carlyle Group
The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and ...
.
**Acquired Mesa-Crest Water Co., serving
La Cañada Flintridge
LA most frequently refers to Los Angeles, the second largest city in the United States.
La, LA, or L.A. may also refer to:
Arts and entertainment Music
* La (musical note), or A, the sixth note
* "L.A.", a song by Elliott Smith on ''Figur ...
, in 2019.
*Georgia (gas)
**Acquired the natural gas operation of
Atmos Energy
Atmos Energy Corporation, headquartered in Dallas, Texas, is one of the United States' largest natural-gas-only distributors, serving about three million natural gas distribution customers in over 1,400 communities in nine states from the Blue Ri ...
in
Columbus
Columbus is a Latinized version of the Italian surname "''Colombo''". It most commonly refers to:
* Christopher Columbus (1451-1506), the Italian explorer
* Columbus, Ohio, capital of the U.S. state of Ohio
Columbus may also refer to:
Places ...
and
Gainesville in 2013
*Illinois (gas, water)
**Acquired the water operations of
Silverleaf Resorts in 2005.
**Acquired the natural gas operations of
Atmos Energy
Atmos Energy Corporation, headquartered in Dallas, Texas, is one of the United States' largest natural-gas-only distributors, serving about three million natural gas distribution customers in over 1,400 communities in nine states from the Blue Ri ...
in Illinois in 2012.
[Liberty Utilities Completes Acquisition of Atmos Energy’s Natural Gas Distribution Businesses in Illinois, Iowa and Missouri](_blank)
/ref>
*Iowa (gas)
**Acquired the natural gas operations of Atmos Energy
Atmos Energy Corporation, headquartered in Dallas, Texas, is one of the United States' largest natural-gas-only distributors, serving about three million natural gas distribution customers in over 1,400 communities in nine states from the Blue Ri ...
in Iowa in 2012.Fall River
Fall River is a city in Bristol County, Massachusetts, United States. The City of Fall River's population was 94,000 at the 2020 United States Census, making it the tenth-largest city in the state.
Located along the eastern shore of Mount H ...
and North Attleborough
North Attleborough, alternatively spelled North Attleboro, is a town in Bristol County, Massachusetts, United States. The population was 30,834 at the 2020 United States Census.
The villages of Attleboro Falls and North Attleborough Center are ...
from Laclede Group
Spire Inc. () is a public utility holding company based in St. Louis, Missouri, providing natural gas service through its regulated core utility operations while engaging in non-regulated activities that provide business opportunities. Its primar ...
in 2013.
*Missouri (gas, water, electric)
**Acquired the water operations of Silverleaf Resorts in 2005.Atmos Energy
Atmos Energy Corporation, headquartered in Dallas, Texas, is one of the United States' largest natural-gas-only distributors, serving about three million natural gas distribution customers in over 1,400 communities in nine states from the Blue Ri ...
in Missouri in 2012.
Kentucky Power acquisition
On October 26, 2021 Liberty Utilities agreed to acquire the Kentucky operations of American Electric Power
American Electric Power (AEP), (railcar reporting mark: AEPX) is a major investor-owned electric utility in the United States, delivering electricity to more than five million customers in 11 states.
AEP ranks among the nation's largest g ...
in a transaction valued at $2.8 billion (US). The purchase is expected to close in the second quarter of 2022, pending regulatory approval.
References
External links
www.algonquinpower.com Website
* http://www.libertyutilities.com/
{{DEFAULTSORT:Algonquin Power and Utilities
Electric power companies of Canada
Companies based in Oakville, Ontario
Energy companies established in 1997
Renewable resource companies established in 1997
Companies listed on the Toronto Stock Exchange
Canadian companies established in 1997
1997 establishments in Ontario