CALGARY,
AB, Oct. 24, 2023 /CNW/ - Canadian Utilities
Limited (TSX: CU) (TSX: CU.X)
The South Australian Government has announced a consortium
comprising ATCO Australia and BOC,
a Linde company, as the preferred partner to design the world's
biggest hydrogen production facility and a hydrogen power plant
near Whyalla, South Australia. The
ATCO Australia and BOC consortium
has committed to an Early Contractor Involvement (ECI) agreement
with the State Government, which will see the consortium undertake
detailed project and engineering design, procurement of critical
equipment, finalise contracting arrangements, and cost estimations.
The project's operations are set to commence in 2026.
"Across our global operating jurisdictions, we are working
closely with governments, communities and partners to build better
communities and make meaningful progress on decarbonisation," said
Nancy Southern, Chair & Chief
Executive Officer, ATCO. "We are delighted to be working closely
with South Australian Government and acknowledge their foresight
and action on this hydrogen opportunity."
The 250 MW hydrogen production facility and 200 MW
hydrogen-fuelled electricity generation facility are part of the
South Australia's Hydrogen Jobs
Plan Project, which also includes a hydrogen
storage facility. To date, South Australia has committed AUD $593 million of state funding and will own the
proposed facilities.
"These facilities will unlock opportunities for further energy
innovation across the country," said John Ivulich, CEO and Country
Chair, ATCO Australia. "Our
selection as a preferred partner speaks to the talent of the ATCO
team and our expertise in advancing hydrogen – through projects
like the Clean Energy Innovation Hub here in Australia and hydrogen natural gas blending
programs in Canada and
Australia - as well as our expertise in the design, building
and operation of power plants in Canada, Australia and the U.K."
More information about the Government of South Australia's Hydrogen Jobs Plan and the
proposed hydrogen facilities can be found at
www.hydrogen.sa.gov.au/home/news/preferred-partners-selected-for-hydrogen-jobs-plan-in-whyalla.
About ATCO Australia and Canadian Utilities
Canadian Utilities Limited and its subsidiary and affiliate
companies – including ATCO Australia - have approximately 8,000
employees and assets of $23 billion. Canadian Utilities, an ATCO
company, is a diversified global energy infrastructure corporation
delivering essential services and innovative business solutions in
Utilities (electricity and natural gas transmission and
distribution, and international operations); Energy Infrastructure
(energy storage, energy generation, industrial water solutions, and
clean fuels); and Retail Energy (electricity and natural gas retail
sales, and whole-home solutions). More information can be found at
www.canadianutilities.com.
Contacts
Colin Jackson -- Investor
& Analyst Inquiries
Senior Vice President, Finance,
Treasury & Sustainability
Colin.Jackson@atco.com
403 808 2636
Kurt Kadatz -- Media Inquiries
Director,
Corporate Communications
Kurt.Kadatz@atco.com
587 228 4571
Forward-Looking Information
Advisory
Certain statements contained in this news release constitute
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as
"anticipate", "plan", "estimate", "expect", "may", "will",
"intend", "should", "goals", "targets", "strategy", "future", and
similar expressions. In particular, forward-looking information in
this news release includes, but is not limited to, references to:
ATCO's commitment to building better communities and its progress
on decarbonisation initiatives; the expected hydrogen production,
electricity generation and hydrogen storage capacity of the
facilities planned in connection with the South Australian Hydrogen
Jobs Plan project; the sources of funding and ownership profile for
the proposed facilities; the anticipated impact of the proposed
facilities to unlock opportunities for further energy innovation;
the anticipated timing and terms of the ECI agreement; and the
expected timing of project commencement.
Although Canadian Utilities believes that the expectations
reflected in the forward-looking information are reasonable based
on the information available on the date such statements are made
and processes used to prepare the information, such statements are
not guarantees of future performance and no assurance can be given
that these expectations will prove to be correct. Forward-looking
information should not be unduly relied upon. By their nature,
these statements involve a variety of assumptions, known and
unknown risks and uncertainties, and other factors, which may cause
actual results, levels of activity, and achievements to differ
materially from those anticipated in such forward-looking
information. The forward-looking information reflects Canadian
Utilities' beliefs and assumptions with respect to, among other
things, the development and performance of technology and
technological innovations; continuing collaboration with certain
business partners, and regulatory and environmental groups; the
performance of assets and equipment; the ability to meet current
project schedules, and other assumptions inherent in management's
expectations in respect of the forward-looking information
identified herein.
Canadian Utilities' actual results could differ materially
from those anticipated in this forward-looking information as a
result of, among other things, risks inherent in the performance of
assets; capital efficiencies and cost savings; applicable laws,
regulations and government policies; regulatory decisions;
competitive factors in the industries in which Canadian Utilities
operates; prevailing market and economic conditions; credit risk;
interest rate fluctuations; the availability and cost of labour,
materials, services, and infrastructure; the development and
execution of projects; prices of electricity, natural gas, natural
gas liquids, and renewable energy; the development and performance
of technology and new energy efficient products, services, and
programs; the termination or breach of contracts by contract
counterparties; the occurrence of unexpected events such as fires,
severe weather conditions, explosions, blow-outs, equipment
failures, transportation incidents, and other accidents or similar
events; and other risk factors, many of which are beyond the
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correlation of these factors, the impact of any one material
assumption or risk on a forward-looking statement cannot be
determined with certainty. Readers are cautioned that the foregoing
lists are not exhaustive. For additional information about the
principal risks that Canadian Utilities faces, see "Business Risks
and Risk Management" in Canadian Utilities' Management's Discussion
and Analysis for the year ended December 31,
2022.
Any forward-looking information contained in this news
release represents Canadian Utilities' expectations as of the date
hereof, and is subject to change after such date. Canadian
Utilities disclaims any intention or obligation to update or revise
any forward-looking information whether as a result of new
information, future events or otherwise, except as required by
applicable securities legislation.
SOURCE ATCO Ltd.