AltaGas Ltd. Commissions Its First Wind Farm in the U.S.
16 Oktober 2012 - 10:44PM
Marketwired
AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U)
today announced the successful commissioning of the Busch Ranch
Wind Project ("Busch Ranch") in southern Colorado. AltaGas owns a
50 percent interest in the 29 MW wind project with the local
utility Black Hills/Colorado Electric Utility Company LP ("Black
Hills Energy"). The power generated from AltaGas' 50 percent
interest is sold pursuant to a 25-year renewable energy purchase
agreement with Black Hills Energy. The project was completed ahead
of schedule with a cost to AltaGas of US$25 million.
"Busch Ranch is a strong addition to our renewable portfolio in
the U.S.," said David Cornhill, Chairman and CEO of AltaGas. "We
continue to execute our growth strategy with long-term contracted
assets that provide stable earnings and strong growth for our
shareholders."
Busch Ranch, alongside the biomass generation assets acquired
earlier in 2012, increases AltaGas' current renewable power
generation in the U.S. to approximately 50 MW. All of these U.S.
renewable power assets are fully contracted with long-term power
purchase agreements.
AltaGas is an energy infrastructure business with a focus on
natural gas, power and regulated utilities. AltaGas creates value
by acquiring, growing and optimizing its energy infrastructure,
including a focus on renewable energy sources. For more information
visit: www.altagas.ca.
This news release contains forward-looking statements. When used
in this news release, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "seek", "propose",
"estimate", "expect", and similar expressions, as they relate to
AltaGas or an affiliate of AltaGas, are intended to identify
forward-looking statements. In particular, this news release
contains forward-looking statements with respect to, among other
things, business objectives, expected growth, results of
operations, performance, business projects and opportunities and
financial results. These statements involve 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 statements. Such statements reflect AltaGas'
current views with respect to future events based on certain
material factors and assumptions and are subject to certain risks
and uncertainties, including without limitation, changes in market,
competition, governmental or regulatory developments, general
economic conditions and other factors set out in AltaGas' public
disclosure documents. Many factors could cause AltaGas' actual
results, performance or achievements to vary from those described
in this news release, including without limitation those listed
above. These factors should not be construed as exhaustive. Should
one or more of these risks or uncertainties materialize, or should
assumptions underlying forward-looking statements prove incorrect,
actual results may vary materially from those described in this
news release as intended, planned, anticipated, believed, sought,
proposed, estimated or expected, and such forward-looking
statements included in, or incorporated by reference in this news
release, should not be unduly relied upon. Such statements speak
only as of the date of this news release. AltaGas does not intend,
and does not assume any obligation, to update these forward-looking
statements. The forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
Contacts: AltaGas Ltd. Investment Community
1-877-691-7199investor.relations@altagas.ca AltaGas Ltd. Media
(403) 691-9873media.relations@altagas.ca www.altagas.ca
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