OAKVILLE, ON, Nov. 29, 2016 /CNW/ - Algonquin Power &
Utilities Corp. ("APUC" or the "Company") (TSX: AQN, NYSE: AQN)
today hosted its seventh annual Investor Day where Chief Executive
Officer Ian Robertson, Vice Chair
Chris Jarratt, Chief Financial
Officer David Bronicheski, and other
members of APUC's leadership team provided updates on the strategic
direction, growth prospects and long term financing plans of APUC,
including further details on integration progress related to its
merger with The Empire District Electric Company ("Empire") and its
updated long term growth program with identified investment
opportunities of approximately ten billion
dollars through 2021.
Central to the Company's strategic plan is $4.3 billion of forecasted investment in new
renewable energy facilities, including additional wind energy
capacity that will lead to reduced customer electricity costs as
Empire transitions away from coal-fired generation, a goal which is
consistent with the objectives of the State regulatory agencies to
modernize Empire's generation mix and comply with state and federal
environmental regulations. A further $2.0
billion in opportunities were outlined across APUC's
generation, transmission, and distribution businesses.
"Algonquin Power & Utilities Corp. continues to demonstrate
an ability to identify accretive investment opportunities which
support our objective of growing earnings and cash flows,"
commented Ian Robertson, Chief
Executive Officer of APUC. "With the closing of Empire fast
approaching, we are looking forward to leveraging APUC's renewable
energy development skills to further green Empire's generation mix
and deliver long term accretive growth for our shareholders with a
highly visible five year program of capital investment
opportunities."
In relation to the press release issued on November 24, the common shares of APUC began
trading on the New York Stock Exchange today under the ticker
symbol AQN. APUC will continue to trade on the Toronto Stock
Exchange under the same ticker symbol. APUC common shares can now
be traded either on the Toronto Stock Exchange in Canadian dollars,
or on the New York Stock Exchange in U.S. dollars.
The presentation material from the 2016 Investor Day is
available on APUC's website www.AlgonquinPowerandUtilities.com.
An archived audio and video webcast of the Investor Day is also
available after 3:00 p.m. today at
http://www.smpav.ca/sign-in.php?ID=29965.
Additional information can be found at
www.AlgonquinPowerandUtilities.com under "News and Market
Information".
About Algonquin Power & Utilities Corp.
APUC is a $6.3 billion North
American diversified generation, transmission and distribution
utility. The distribution business group provides rate regulated
water, electricity and natural gas utility services to over 564,000
customers in the United States.
The generation business group owns a portfolio of North American
based contracted wind, solar, hydroelectric and natural gas powered
generating facilities representing more than 1,300 MW of installed
capacity. The transmission business group invests in rate regulated
electric transmission and natural gas pipeline systems in
the United States and Canada. APUC delivers continuing growth
through an expanding pipeline of renewable energy development
projects, organic growth within its regulated distribution and
transmission businesses, and the pursuit of accretive acquisitions.
Common shares, preferred shares, and instalment receipts are traded
on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A,
AQN.PR.D, and AQN.IR. APUC's common shares are also listed on the
New York Stock Exchange under the symbol AQN.
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 contain
information that is forward-looking within the meaning of certain
securities laws, including information and statements regarding
prospective results of operations, financial position or cash
flows. 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 the management's discussion and analysis section
of APUC's most recent annual report, quarterly report, and APUC's
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
or information to reflect new information, subsequent or
otherwise.
For Further Information:
Additional information can be found on APUC's web site
www.AlgonquinPowerandUtilities.com or by contacting Investor
Relations.
SOURCE Algonquin Power & Utilities Corp.