ATCO Group And MICROSOFT Announce Long-Term Renewable Energy Power Purchase Agreement

Source: ATCO Ltd. | · NEWSWIRE · | April 19, 2022

Source: Artist’s rendering of ATCO’s Deerfoot solar project, renewable energy from which will be purchased by Microsoft Corporation

The ATCO Group, through its investment in Canadian Utilities Limited, today announced that it has entered into a 15-year power purchase agreement with Microsoft Corporation. Under the terms of the agreement, Microsoft will purchase all renewable energy generated by ATCO's Deerfoot solar facility in Calgary, Alberta. Once operational, the Deerfoot solar facility will be one of the largest solar installations in a major urban centre in Western Canada, contributing to ATCO's goal of owning, developing or managing more than 1,000 megawatts (MW) of renewable energy by 2030.

"This agreement represents ATCO's desire to be a leader in decarbonization and enable the energy transition for our customers," said Bob Myles, Executive Vice President, Corporate Development, ATCO. "We're very pleased to work with Microsoft to achieve our shared objectives around renewable energy. Our focus, in a transitioning world of energy is to provide energy in a safe, affordable and reliable manner."

"Renewable energy supply contracts like this agreement with ATCO are key to meeting our goal of contracting 100% of our energy consumption with renewable sources by 2025." said Kevin Peesker, President, Microsoft Canada. "This agreement with ATCO is an important step in helping Microsoft deliver on our renewable energy commitments in Canada.