Client Work

ATCO Grows Renewable Energy Portfolio With Major Acquisition From Suncor

October 7, 2022
Authors
Luke MorrisonPartner
Ashley M. WhitePartner
William S. Osler KCPartner
Julia N. PasiekaAssociate
Susan G. SellerPartner
Denise D. BrightPartner
Alixe A.L. CameronPartner
Samantha LushAssociate
Michael D. W. RamsayCounsel

Canadian Utilities Limited, an ATCO company, announced it has entered into a definitive agreement with Suncor Energy Inc., to acquire a portfolio of wind and solar assets and projects located in Alberta and Ontario for a purchase price of $730 million, subject to closing adjustments.

Bennett Jones is acting for Canadian Utilities Limited.

The acquisition:

  • includes 252 MW suite of operational wind facilities and 1,500+ MW development pipeline of wind and solar projects; and
  • advances ATCO's growing leadership in renewables and clean fuels and puts ATCO on trajectory to achieve its target of owning, developing or managing 1,000 MW of renewable energy by 2030.

The Bennett Jones deal team is led by Luke Morrison (Corporate/Energy) and includes Ashley White (Corporate/Energy), Will Osler (Corporate/Securities), Julia Pasieka and Sydney Olsen (Corporate/Commercial), John Gilmore and Susan Seller (Employment/Pensions), Denise Bright (Finance), Deirdre Sheehan (Regulatory), Alixe Cameron, Samantha Lush and Michael Ramsay (Real Estate), and Kyle Donnelly (Competition).

More details on the acquisition are available here.

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For informational purposes only

This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors.

Authors

Luke Morrison, Partner
Calgary  •   403.298.8158  •   morrisonl@bennettjones.com
Ashley M. White, Partner  •   Co-Head of Energy Practice
Calgary  •   403.298.3471  •   whitea@bennettjones.com
William S. Osler KC, Partner
Calgary  •   403.298.3426  •   oslerw@bennettjones.com
Julia N. Pasieka, Associate
Calgary  •   403.298.3441  •   pasiekaj@bennettjones.com
Susan G. Seller, Partner
Toronto  •   416.777.5638  •   sellersg@bennettjones.com
Denise D. Bright, Partner
Calgary  •   403.298.4468  •   brightd@bennettjones.com
Alixe A.L. Cameron, Partner  •   Co-Head of Commercial Real Estate Practice
Calgary  •   403.298.4482  •   camerona@bennettjones.com
Samantha Lush, Associate
Calgary  •   403.298.3208  •   lushs@bennettjones.com
Michael D. W. Ramsay, Counsel
Calgary  •   403.298.3453  •   ramsaym@bennettjones.com