Canada's Atco gets legal rights to 39-MW solar project in Alberta

• Canadian design, logistics as well as energy holding business Atco Ltd (TSE: ACO.X) claimed on Monday it has actually acquired a 39-MW solar project that is presently being created in the state of Alberta.

Calgary, Alberta-based Atco got the development legal rights to the Empress Solar plan from a third-party designer whose name was not defined. The worth of the transaction also continued to be under wraps.

Atco carried out the purchase through its subsidiary Canadian Utilities Ltd

Situated near the village of Empress near the Alberta-Saskatchewan border, the Empress photovoltaic (PV) project has is already being executed besides major licenses have actually been secured. The nuclear power plant will certainly use 85,000 bifacial photovoltaic panels that are prepared to be switched on in 2022. Its outcome, approximated to be sufficient to cover the annual intake of over 11,000 homes, will be sold right into the Alberta power market. Atco claimed it is currently holding talks with possible off-takers to authorize a power acquisition arrangement (PPA).

"This type of power project is a central column of ATCO's strategy, a method anchored by our dedication to sustainability with the production of cleaner gas, sustainable power, energy efficiency and also crucial energy facilities," claimed Bob Myles, executive vice head of state company development at Atco.