This Utility Is Growing by Greening The Grid
For over two decades, Algonquin Power and Utilities Group (NYSE: AQN) has been making money for its shareholders by selling clean energy to its customers. Today, the company owns and operates a growing number of regulated gas, water and electrical utilities, as well as renewable energy power plants across the US and Canada. Its early focus on renewable energy has brought it market-beating growth and a strong reputation. As electric grids across the world transition to "emissions-free" sources of energy, Algonquin is leveraging its green track record to build clean energy power plants for large corporate customers -- and to "buy up and green up" its competitors.
Algonquin is growing by greening the power grid-Image source: Getty Images
In 1997, Algonquin raised about $74 million to purchase several hydroelectric plants in Canada and New England, and set itself up as Algonquin Power Income Fund. As its holdings grew, it transitioned to a corporation in 2009. Today, Algonquin is valued at over $8 billion via its two main subsidiaries: Liberty Utilities, which operates regulated water, gas and electric utilities in 13 US states and one Canadian province, and Liberty Power, its renewable energy developer, which owns and operates nearly 2GW worth of power plants across the US and Canada.
Source Fool.com
