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ATCO Group and Microsoft Detail Long Term Renewable Energy Power Purchase Agreement

Press Release

April 19, 2022

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.

Located within the City of Calgary, the 37-MW Deerfoot solar project is adjacent to ATCO’s 27-MW Barlow project. Construction for both projects is set to begin later this spring, with energization in the fourth quarter of 2022. Combined, the facilities will generate enough renewable electricity to offset 68,000 tonnes of carbon a year.

ATCO’s Commitment to Sustainability

For ATCO, sustainability is more than an aspiration; it is interwoven into our strategy, our day-to-day operations, the products and services we provide, and the fabric of our people. It manifests across our family of companies in countless ways, both in how we conduct our day-to-day activities and in the contributions we make to society through our operations and the community spirit of our people. Our enduring and holistic commitment is clearly reflected in our efforts to cost-effectively and reliably accelerate the energy transition; enhance our environmental performance and reduce our greenhouse gas emissions; champion the safety, inclusivity, and equity of our people, communities, and customers; foster Indigenous and community partnerships based on trust, equity and mutual respect; and ensure uninterrupted, resilient, and reliable access to essential products and services—anytime, anywhere.

Building upon our long track record of sustainability leadership, ATCO has a comprehensive set of 2030 environmental, social and governance (ESG) targets and a commitment to achieve net zero greenhouse gas (GHG) emissions by 2050. ATCO’s 2030 ESG targets include reducing our operational and customer emissions, growing our renewable energy footprint, increasing economic benefits for Indigenous partners, continuing our focus on safety, and further promoting diversity, equity, and inclusion in the workplace.

With approximately 6,400 employees and assets of $23 billion, ATCO is a diversified global corporation with investments in the essential services of Structures & Logistics (workforce and residential housing, innovative modular facilities, construction, site support services, workforce lodging services, facility operations and maintenance, defence operations services, and disaster and emergency management services); Utilities (electricity and natural gas transmission and distribution, and international electricity operations); Energy Infrastructure (electricity generation, energy storage and industrial water solutions); Retail Energy (electricity and natural gas retail sales); Transportation (ports and transportation logistics); and Commercial Real Estate. More information can be found at www.ATCO.com.

Investor & Analyst Inquiries:

Colin Jackson
Senior Vice President, Finance, Treasury, Risk & Sustainability
[email protected]
(403) 808 2636

Media Inquiries:

Kurt Kadatz
Director, Corporate Communications
[email protected]
(587) 228 4571

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