CALGARY, Alberta, March 05, 2018 (GLOBE NEWSWIRE) -- ATCO Ltd. (TSX:ACO.X) (TSX:ACO.Y),
Canadian Utilities Limited (TSX:CU) (TSX:CU.X)
ATCO announced today that Canadian Utilities, an ATCO company, will build a 26 megawatt (MW) cogeneration project on the site of
the Chemours Company Mexicana S. de R.L. de C.V.’s (Chemours) chemical facility near Gómez Palacio, Durango in Mexico. Developed in
partnership with RANMAN Energy (RE), this project – known as the La Laguna Cogeneration Facility – continues to expand ATCO’s
portfolio in Mexico, while also providing an innovative energy solution to a strategic industrial partner.
“Industrial customers in Mexico are increasingly looking for creative solutions that allow them to capitalize on the country’s
energy market reforms,” said Wayne Stensby, Managing Director, Electricity with ATCO. “Our latest project ensures Chemours has
access to the reliable electricity and steam it needs to run its operations, while also providing low-carbon electricity back to
the market.”
Under a long-term agreement, the La Laguna Cogeneration Project will consume excess gas and reuse steam generated as by-products
of the host facility’s chemical processes – simultaneously producing secure, low-carbon and cost-effective electricity and heat.
The total investment associated with the project is approximately CAD$70 million, and is expected to be operational in the second
quarter of 2019.
The La Laguna Cogeneration Facility is the latest in a series of electricity generation projects ATCO has pursued in Mexico. In
2017, in partnership with RE, the company announced and put into service a distributed power generation solution in the World Trade Centre Industrial Park in San Luis
Potosí. Recently, ATCO also closed the acquisition of Electricidad del Golfo, which owns a 35 MW hydroelectric power station in the
state of Veracruz. Founded in 2015, Chemours is a U.S. based chemicals company that operates 35 production facilities
worldwide.
RANMAN Energy is a Mexican enterprise that specializes in developing energy infrastructure projects in Mexico. RANMAN
Energy provides efficient quality solutions that improve the energy security of the customers that engage our
services.
With approximately 7,000 employees and assets of $22 billion, ATCO is a diversified global corporation delivering
service excellence and innovative business solutions in Structures & Logistics (workforce housing, innovative modular facilities,
construction, site support services, and logistics and operations management); Electricity (electricity generation, transmission,
and distribution); Pipelines & Liquids (natural gas transmission, distribution and infrastructure development, energy storage, and
industrial water solutions); and Retail Energy (electricity and natural gas retail sales). More information can be found
at www.ATCO.com.
Investor Inquiries:
D.A. (Dennis) DeChamplain
Senior Vice President & Chief Financial Officer
403-292-7502 |
Media Inquiries:
Leanne Madder
Senior Communications Advisor
403-968-3086 |
Forward-Looking Information: |
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Certain statements contained in this news release may
constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words
such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such forward-looking information.
The Company’s actual results could differ materially from those anticipated in this forward-looking information as a
result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic
conditions, and other factors, many of which are beyond the control of the Company.
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The Company believes that the expectations reflected in the
forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and
such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents the Company’s expectations as of the date
hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any
forward-looking information whether as a result of new information, future events or otherwise, except as required by
applicable securities legislation.
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