Suncor Energy Inc. says it is selling its wind and solar assets to Canadian Utilities Limited for $730 million.
The move follows Suncor's announcement last April that was divesting its wind and solar assets to focus on areas of energy expansion, including hydrogen and renewable fuels.
The Calgary-based oilsands giant says in a release Wednesday that it wants to concentrate on its core business as it progresses to net-zero by 2050. Kris Smith, Suncor's interim president and CEO, says its efforts will include replacing coke-fired boilers at its base plant with lower emission cogeneration units.
He says Suncor will also be investing in hydrogen and low-carbon fuels and accelerating commercial-scale deployment of carbon capture technology. Suncor says the sale includes its interest in Magrath, Chin Chute and Adelaide wind farms, as well as Forty Mile wind farm.This report by The Canadian Press was first published Oct. 5, 2022
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Suncor Energy Inc. selling wind, solar assets to Canadian Utilities LimitedSuncor Energy Inc. says it is selling its wind and solar assets to Canadian Utilities Limited for $730 million
Read more »
Suncor to sell wind and solar assets to Canadian Utilities for $536 millionSuncor Energy Inc said on Wednesday it would sell its wind and solar assets in Canada to Canadian Utilities Ltd for C$730 million ($536.17 million).
Read more »
Canadian Utilities buying Suncor's wind and solar assets for $730M - BNN BloombergSuncor Energy announced a near-full exit from its Canadian wind and solar business Wednesday as Canadian Utilities Ltd. stepped up to buy the assets for $730 million.
Read more »
TC Energy spending $146 million to build solar power project in Alberta | Globalnews.caTC Energy said the Saddlebrook solar project will be located near Aldersyde, Alta., south of Calgary and will employ two full-time employees once fully operational.
Read more »
TC Energy spending $146M to build solar power project south of CalgaryTC Energy Corp. says it is spending $146 million to build its first Canadian solar power project. yyc
Read more »
Pipeline giant TC Energy to build $146-million solar farm in southern AlbertaSaddlebrook Solar Project will be the company\u0027s first solar power project, with a capacity to generate 81 megawatts. Find out more.
Read more »