Algonquin Power & Utilities

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Algonquin Power and Utilities Corp
Type Public
Traded as TSXAQN
Industry Electric generation
Water Utilities
Founded 1997
Headquarters Oakville, Ontario, Canada
Key people Ian E. Robertson , CEO
Revenue C$276.6m 2011
Operating income C$37.8m
Net income C$23.4m
Total assets C$1,282m
Website www.algonquinpower.com

Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company with assets across North America. Algonquin actively invests in hydroelectric, wind and solar power facilities, and sustainable utility businesses (water, electricity and natural gas) through its two operating subsidiaries: Algonquin Power Co. and Liberty Utilities.

Public Listing[edit]

Algonquin Power Income Fund was established in September 1997 and first listed its trust units on the Toronto Stock Exchange on December 23, 1997.[1] Having raised nearly $75m, Algonquin used $27.5m to purchase 14 hydroelectric generation facilities located in Ontario, Québec, New York and New Hampshire.

Conversion to Corporation[edit]

In response to the Government of Canada's decision to end the preferential tax treatment of income trusts, Algonquin Power Income Fund was converted to a corporation in October 2009.[2] Unit-holders exchanged their trust units on a one-for-one basis for shares in the new corporate entity, Algonquin Power & Utilities.

References[edit]

  1. ^ Algonquin Power Annual Report, 1997
  2. ^ Algonquin Power Annual Report, 2009

External links[edit]