Algonquin Power & Utilities Corp provides renewable energy and regulated utility services through a portfolio of diversified assets in North America and international markets.
The energy generation facilities include hydro, solar, wind and thermal power plants.
The Ontario-based company owns and operates generation, distribution and transmission facilities through two divisions: regulated services and renewable energy.
It provides rate-regulated natural gas, electricity, and water utility services primarily in North America, accounting for a major portion of its total revenue. Natural gas distribution units and wind farms also contribute to its income.
The company distributes electricity generated in its renewable energy plants to over a million customers.
Algonquin and Spain-based Abengoa aim to develop a water infrastructure and clean energy assets through a joint venture. In 2018, Algonquin purchased from Abengoa an aggregate 41.5 per cent equity interest in Atlantica Yield, an energy infrastructure company.
Four business partners ventured into the Independent Power Producer Industry (IPP) and established the company in 1988. Initially, it developed hydroelectric projects in Ontario, Canada.
However, in 2001, it entered the utility business when it purchased regulated water and wastewater treatment plants in Arizona. The power producer also grew its footprints in Texas, Missouri and Illinois.
Algonquin Power constructed its first wind farm in St Leon, Canada, in 2004.
In 2009, the company's water and wastewater utilities were rebranded as ‘Liberty Water’, and its power generation assets were renamed as Algonquin Power Co.
The transmission group develops and invests in electric transmission systems and natural gas pipelines.
The energy producer acquired its first electricity distribution unit, California Pacific Electric Company, in Lake Tahoe in 2010. This was followed by simultaneous expansion into natural gas utilities in Missouri, New Hampshire, Iowa, Georgia, Arkansas, Massachusetts, and Illinois.
The diversified energy firm entered into the solar energy sector in 2014 to construct its first solar plant in Cornwall, Ontario.
Three years later, the company acquired Empire District Electric Company to grow its presence in the central United States.
Algonquin Power & Utilities Corp reportedly focuses on sustainable development and provides clean energy and water solutions.
Financial records, stock information and asset summaries are regularly posted on the official website.