Algonquin Power goes global with new JV

With tax credits for wind power assets in the US due to taper off in 2020, the Canadian infrastructure developer needed to inject some diversification into its strategy. A new deal with Abengoa to develop clean energy and water projects holds considerable potential.

Canadian infrastructure owner Algonquin Power & Utilities Corp. (APUC) has taken its first step outside North America by establishing a global project development vehicle with Spain’s Abengoa, which will focus on clean energy and water.

The assets developed by the new joint venture – Abengoa-Algonquin Global Energy Solutions (AAGES) – will be eligible to drop down into...

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