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Released October 07, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian Utilities Limited, a subsidiary of ATCO Limited (Calgary, Alberta), earlier this week purchased Suncor Energy's (NYSE:SU) (Calgary) wind and solar assets for C$730 million (US$532.38 million). As Suncor shifts its focus toward its core business, which includes hydrogen and renewable fuels, ATCO says the deal will bring its own development pipeline to more than 1.5 gigawatts (GW) of promising wind and solar projects. Industrial Info is tracking more than US$12.5 billion worth of active power-generation projects from ATCO and Suncor.
Properties sold to ATCO include Suncor's interest in three completed wind-energy facilities: the Magrath Windfarm in Magrath, Alberta; the Chin Chute Windfarm in Taber, Alberta; and the Adelaide Windfarm in Strathroy, Ontario. ATCO will have 33%, 33% and 75% ownership in the windfarms, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can read detailed plant profiles on the Magrath, Chin Chute and Adelaide facilities.
Projects under construction that are to be sold to ATCO include Suncor's US$245 million Forty Mile Windfarm in Bow Island, Alberta, which is expected to be generating 202.5 MW by the end of the year. The facility is expected to use 45 turbines provided by Siemens Gamesa (Zamudio, Spain). Subscribers can learn more from Industrial Info's project report.
Click on the image at right for a map of Suncor's wind-energy plants and projects to be acquired by ATCO.
Kris Smith, the interim chief executive officer of Suncor, said in a press release the divestment would allow Suncor to streamline its portfolio: "Our ESG [environmental, social and governance] efforts will continue to advance in other areas that are complementary to our core business, such as replacing coke-fired boilers at Base Plant with lower-emission cogeneration units; investing in hydrogen and low-carbon fuels; and accelerating commercial-scale deployment of carbon-capture technology."
The transaction is expected to close in the first quarter of 2023, pending regulatory approvals and other closing factors.
At Suncor's Base Plant in Fort McMurray, Alberta, the company began construction in fourth-quarter 2019 on a natural gas-fired, combined-cycle (NGCC) cogeneration unit addition to replace a trio of outdated coal-fired boilers. The new unit is expected to generate 800 megawatts (MW) and cut sulfur dioxide (SO2) emissions by 45%, nitric oxide (NOx) emissions by 15% and particulate matter by 66%. Subscribers to Industrial Info's GMI Power Project Database can learn more in a detailed project report.
Suncor's hydrogen projects include a proposed blue hydrogen plant in Calgary, which would produce hydrogen from natural gas using carbon capture and storage (CCS) technology. Suncor believes the facility will produce more than 300,000 tons of hydrogen per year. Subscribers to Industrial Info's GMI Chemical Processing Project Database can read more in a detailed project report.
ATCO, for its part, already has several renewable projects under construction in Canada's fossil fuel-rich western provinces, including two within Calgary: the US$50 million Deerfoot Solar Facility, which is expected to generate 37 MW of solar power from 109,000 panels provided by Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario); and the US$40 million Barlow Trail Solar Plant, which is expected to see solar generation of 27 MW from 100,000 panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). The Deerfoot project is expected to wrap up toward the end of this year, and the Barlow Trail project is expected to be completed toward the end of 2023. Subscribers can learn more from Industrial Info's detailed reports on the Deerfoot and Barlow Trail projects.
In a presentation announcing the transaction, ATCO said the Alberta Renewable Energy Act's target of 30% (or about 5 GW) of renewable generation in the province's energy portfolio by 2030 makes a "compelling case" to acquire renewable generation, as does a string of expected coal-generation retirements in 2023: "Alberta's deregulated, energy-only market and deep demand for environmental attributes create a strong business case for owning, developing, and managing renewable energy in Alberta."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active power-generation projects from ATCO and Suncor.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Properties sold to ATCO include Suncor's interest in three completed wind-energy facilities: the Magrath Windfarm in Magrath, Alberta; the Chin Chute Windfarm in Taber, Alberta; and the Adelaide Windfarm in Strathroy, Ontario. ATCO will have 33%, 33% and 75% ownership in the windfarms, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can read detailed plant profiles on the Magrath, Chin Chute and Adelaide facilities.
Projects under construction that are to be sold to ATCO include Suncor's US$245 million Forty Mile Windfarm in Bow Island, Alberta, which is expected to be generating 202.5 MW by the end of the year. The facility is expected to use 45 turbines provided by Siemens Gamesa (Zamudio, Spain). Subscribers can learn more from Industrial Info's project report.
Click on the image at right for a map of Suncor's wind-energy plants and projects to be acquired by ATCO.Kris Smith, the interim chief executive officer of Suncor, said in a press release the divestment would allow Suncor to streamline its portfolio: "Our ESG [environmental, social and governance] efforts will continue to advance in other areas that are complementary to our core business, such as replacing coke-fired boilers at Base Plant with lower-emission cogeneration units; investing in hydrogen and low-carbon fuels; and accelerating commercial-scale deployment of carbon-capture technology."
The transaction is expected to close in the first quarter of 2023, pending regulatory approvals and other closing factors.
At Suncor's Base Plant in Fort McMurray, Alberta, the company began construction in fourth-quarter 2019 on a natural gas-fired, combined-cycle (NGCC) cogeneration unit addition to replace a trio of outdated coal-fired boilers. The new unit is expected to generate 800 megawatts (MW) and cut sulfur dioxide (SO2) emissions by 45%, nitric oxide (NOx) emissions by 15% and particulate matter by 66%. Subscribers to Industrial Info's GMI Power Project Database can learn more in a detailed project report.
Suncor's hydrogen projects include a proposed blue hydrogen plant in Calgary, which would produce hydrogen from natural gas using carbon capture and storage (CCS) technology. Suncor believes the facility will produce more than 300,000 tons of hydrogen per year. Subscribers to Industrial Info's GMI Chemical Processing Project Database can read more in a detailed project report.
ATCO, for its part, already has several renewable projects under construction in Canada's fossil fuel-rich western provinces, including two within Calgary: the US$50 million Deerfoot Solar Facility, which is expected to generate 37 MW of solar power from 109,000 panels provided by Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario); and the US$40 million Barlow Trail Solar Plant, which is expected to see solar generation of 27 MW from 100,000 panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona). The Deerfoot project is expected to wrap up toward the end of this year, and the Barlow Trail project is expected to be completed toward the end of 2023. Subscribers can learn more from Industrial Info's detailed reports on the Deerfoot and Barlow Trail projects.
In a presentation announcing the transaction, ATCO said the Alberta Renewable Energy Act's target of 30% (or about 5 GW) of renewable generation in the province's energy portfolio by 2030 makes a "compelling case" to acquire renewable generation, as does a string of expected coal-generation retirements in 2023: "Alberta's deregulated, energy-only market and deep demand for environmental attributes create a strong business case for owning, developing, and managing renewable energy in Alberta."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active power-generation projects from ATCO and Suncor.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
