installed since Algonquin's founding in 1988
Million Metric Tons
Algonquin has surpasses its goal to reduce greenhouse gas emissions by 1 million metric tons from 2017 levels
of generating capacity
The Path to Drawdown: Electrical Utility
Electric utilities play an important role in the path to a world of net-zero emissions. They provide the connective tissue between key Drawdown solutions: renewable energy generation and energy storage. Through long-term power purchase agreements (PPAs), utilities enable renewable energy developers to secure buyers for their power and unlock project finance. Utility companies also often control electrical grids, putting them in the position to prioritize (or deprioritize) the extent to which the grid is outfitted for the intermittency of solar and wind power generation. They also are key players in greenlighting the development of large-scale energy storage.
There are dozens of investor-owned utilities traded on the New York stock exchange (such as Duke, NextEra, Dominion, Xcel, PG&E, etc.), and many of them are purchasing or developing renewable power capacities to provide clean electricity to customers across large regions. We use a stringent criteria to determine which utilities are significantly contributing to the low-carbon energy transition.
Algonquin Power & Utilities Corporation (stock ticker: AQN) is a renewable energy and regulated utility conglomerate with assets across North America. They actively invest in hydroelectric, wind and solar power facilities, as well as utility businesses including water, natural gas, electricity, through its three subsidiaries. They're headquartered in Ontario, Canada.
AQN's Role in Drawdown
Algonquin has two business segments: the Renewable Energy Group and the Regulated Services Group. Their Renewable Energy Group owns hydroelectric, wind and solar energy assets throughout North America. Their Regulated Services Group operates a diversified portfolio of rate-regulated utilities throughout Canada and the US in the natural gas, electric, water and wastewater sectors.
All combined, Algonquin produces 68% of its power from renewables and 28% from mixed sources. Even if all power produced from mixed sources was from fossil fuels, Algonquin would still have >50% power from non fossil fuel sources. It produces no power from coal and has exceeded what is required of it by local regulations in regards to renewable portfolios.
AQN: What We Like
We'll update this section soon.