APUC is a diversified international generation, transmission and distribution utility with approximately $10bn of total assets
Image: Algonquin Power completes acquisition of New Brunswick Gas. Photo: Courtesy of rawpixel from Pixabay.
Algonquin Power & Utilities announced that its subsidiary Liberty Utilities (Canada) LP, APUC’s wholly-owned regulated utility business in Canada, successfully completed its acquisition of Enbridge Gas New Brunswick Limited Partnership along with its general partner (New Brunswick Gas), a subsidiary of Enbridge. New Brunswick Gas is a regulated utility that provides natural gas to approximately 12,000 customers in 12 communities across New Brunswick, and operates approximately 1,200 km of natural gas distribution pipeline.
“We are pleased to mark a new milestone in the growth of our utility business with the acquisition of our first regulated utility in Canada,” said Ian Robertson, Chief Executive Officer of APUC. “New Brunswick Gas has tremendous potential for growth which will be supported by our Fuel for the Future fund to assist residents of New Brunswick with the transition to clean, affordable natural gas for their homes and businesses.”
APUC is a diversified international generation, transmission and distribution utility with approximately U.S. $10 billion of total assets. Through its two business groups, APUC is committed to providing safe, reliable and cost effective rate-regulated natural gas, water, and electricity generation, transmission and distribution utility services to nearly 800,000 connections in the United States and Canada, and is a global leader in renewable energy through its portfolio of long-term contracted wind, solar and hydroelectric generating facilities representing over 2.5 GW of net installed capacity and more than 500 MW of incremental renewable energy capacity under construction.
Source: Company Press Release