Canadian Utilities Ltd. (CU), an ATCO company, has entered into definitive agreements to sell its entire Canadian fossil fuel-based electricity generation portfolio for aggregate proceeds of approximately $835 million, subject to customary closing adjustments. The agreement with Heartland Generation Ltd., an affiliate of Energy Capital Partners, includes 11 partly or fully owned natural gas-fired and coal-fired electricity generation assets located in Alberta, British Columbia, and Ontario, with a combined generating capacity of approximately 2,100 megawatts (MW).
The sale is expected to close in the second half of 2019.
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