Canadian Utilities buying Suncor's wind and solar assets for $730M
BNN Bloomberg
Suncor Energy announced a near-full exit from its Canadian wind and solar business Wednesday as Canadian Utilities Ltd. stepped up to buy the assets for $730 million.
“Divesting of these wind and solar assets further streamlines our portfolio so that we can concentrate our efforts on our core business,” Kris Smith, Suncor’s interim president and chief executive officer, said in a release.
The deal covers all of Suncor’s wind and solar assets in Canada other than the SunBridge wind facility in Saskatchewan that was decommissioned in August, a spokesperson told BNN Bloomberg via email.
Canadian Utilities said the portfolio of assets it’s acquiring are located in Ontario and Alberta, and have an operating capacity of 252 megawatts, plus more than 1,500 megawatts of projects that are in development.
