Wednesday 6 October 2021

Algonquin Power & Utilities announces net zero goal

Algonquin Power & Utilities has made a commitment to achieve net zero carbon emissions by 2050.

The Canadian utility reduced its greenhouse gas emissions by 31% and its mid-west operations emissions by 33% from 2017 through 2020.

In addition, its California-based electric operations emissions were reduced by 38% through 2020.

In 2019, Algonquin announced nine goals for 2023, which includes 2,000MW of additional renewable generation capacity from 2019 through 2023.

The company is on track to accomplish the target, with 1,418MW of new renewable generation having been completed since 2019.

The early closure of its Asbury Coal Plant and completion of around 600MW of new wind generation capacity has led to the early achievement of its goal of reducing emissions by one million metric tonnes.

Algonquin's renewable generation capacity represents more than 60% of its total generation, placing it on track to achieve its goal of 75% renewables by 2023.

Arun Banskota, President & Chief Executive Officer of Algonquin said: “Algonquin started 33 years ago as a developer of renewable energy facilities and today we own, operate or have interests in over 4,000MW of renewable capacity. We are also an early pioneer in building renewables into rate base.

“Today's announcement of our net zero by 2050 target, together with our interim 2023 goals, reinforces our commitment to maintaining a leadership position on our sustainability journey.”