Algonquin Power & Utilities Corp.’s board of directors has initiated a strategic review of the company's renewable energy group, with the aim of enhancing shareholder value. The review will include assessing a range of alternatives for the renewable energy group.
“Both our renewable energy group and our regulated services group have grown into strong businesses, with scale and high-quality assets, and are positioned to benefit from the energy transition,” said Arun Banskota, president and CEO of Algonquin. “However, we believe the market does not fully appreciate the value of our assets. To that end, we are initiating a strategic review of the renewable energy group with the goal of determining the path forward that positions each of our businesses for continued growth, enables us to achieve a lower cost of capital and maximizes shareholder value. We expect to announce our go-forward plans based on the results of our strategic review by our second quarter earnings