News

TransCanada sells solar business to Axium

By ReNew Canada 06:40AM October 27, 2017

528


0


Read Later

TransCanada Corporation has announced that it has entered into an agreement to sell its Ontario solar portfolio comprised of eight facilities with a total generating capacity of 76 megawatts to Axium Infinity Solar LP, a subsidiary of Axium Infrastructure Canada II Limited Partnership, for approximately $540 million. The transaction is expected to close by the end of 2017 subject to certain regulatory and other approvals as well as customary closing adjustments.

“This transaction demonstrates our financial discipline as we continue to build on our vision of being North America’s leading energy infrastructure company,” said Russ Girling, TransCanada’s president and chief executive officer. “The proceeds from this sale will help fund our $24 billion near term capital program while maximizing value for our shareholders.”

With more than 65 years’ experience, TransCanada is involved in the development and operation of North American energy infrastructure including natural gas and liquids pipelines, power generation, and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent’s leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. TransCanada also currently owns or has interests in approximately 6,200 megawatts of power generation in Canada and the United States.

Would you recommend this article?

Suggested News Articles

News, OntarioDec. 07, 2018
Read Later

Ontario repeals the Green Energy Act

The Government of Ontario has followed through on one of its key election promises in announcing the repeal of the Green Energy Act, 2009, "The Green Energy Repeal Act eliminates…
News, Western CanadaNov. 30, 2018
Read Later

Revelstoke 6 project granted EA certificate

An environmental assessment certificate has been issued to BC Hydro and Power Authority for the Revelstoke Generating Station Unit 6 project (Revelstoke 6 project), following a decision by George Heyman,…
National, News, Northern CanadaNov. 14, 2018
Read Later

Canada, NWT invest in Inuvik wind project

Federal and territorial officials joined Inuvik mayor Natasha Kulikowski to announce $40 million in funding for the Inuvik Wind Generation project. This is the first project under the Government of…

Comments

0