OAKVILLE, Ontario–(BUSINESS WIRE)–Algonquin Energy & Utilities Corp. (TSX/NYSE: AQN) (AQN or the Firm) introduced at the moment it has accomplished the sale of its 42.2% fairness curiosity in Atlantica Sustainable Infrastructure plc (NASDAQ: AY) (Atlantica).

We’re happy with the well timed and efficient execution of this transaction, stated Chris Huskilson, Chief Government Officer of AQN. Certainly one of my primary priorities because the starting of my tenure as CEO was to optimize the worth of our funding of Atlantica, and with the completion of the sale at the moment we now have realized that objective. Whereas there’s extra work to do, this additionally marks a pivotal step in AQN’s strategic transition to changing into a pure-play regulated utility firm with a extra centered and simplified construction and funding thesis.

AQN intends to make use of the web proceeds from the sale to assist cut back debt and recapitalize its stability sheet as a part of its ongoing strategic transition to a pure play regulated utility.

J.P. Morgan Securities LLC served because the unique monetary advisor to AQN, and Weil, Gotshal & Manges LLP acted as authorized advisor to AQN in reference to the transaction.

About Algonquin Energy & Utilities Corp (TSX:). and Liberty

Algonquin Energy & Utilities (NYSE:) Corp., guardian firm of Liberty, is a diversified worldwide technology, transmission, and distribution utility. AQN is dedicated to offering protected, safe, dependable, cost-effective, and sustainable vitality and water options by its portfolio of technology, transmission, and distribution utility investments to over a million buyer connections, largely in the US and Canada. As well as, AQN owns, operates, and/or has web pursuits in over 4 GW of put in renewable vitality capability. AQN’s frequent shares, most popular shares, Collection A, and most popular shares, Collection D are listed on the Toronto Inventory Alternate below the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN’s frequent shares and Collection 2019-A subordinated notes are listed on the New York Inventory Alternate below the symbols AQN and AQNB, respectively.

Go to AQN at www.algonquinpower.com and comply with us on X.com @AQN_Utilities.

Warning Concerning Ahead-Wanting Info

Sure statements included on this information launch represent ˜˜forward-looking info” inside the which means of relevant securities legal guidelines in every of the provinces and territories of Canada and the respective insurance policies, laws and guidelines below such legal guidelines and ˜˜forward-looking statements” inside the which means of the U.S. Personal Securities Litigation Reform Act of 1995 (collectively, ˜˜forward-looking statements). The phrases will and intends (and grammatical variations of such phrases) and related expressions are sometimes meant to determine forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. Particular forward-looking statements on this information launch embody, however aren’t restricted to, statements relating to: the Firm’s strategic transition to changing into a pure-play regulated utility firm with a extra centered and simplified construction and funding thesis; and the anticipated use of the web proceeds from the sale of the Firm’s curiosity in Atlantica. These statements are based mostly on elements or assumptions that had been utilized in drawing a conclusion or making a forecast or projection, together with assumptions based mostly on historic traits, present situations and anticipated future developments. Since forward-looking statements relate to future occasions and situations, by their very nature they require making assumptions and contain inherent dangers and uncertainties. AQN cautions that though it’s believed that the assumptions are affordable within the circumstances, these dangers and uncertainties give rise to the likelihood that precise outcomes could differ materially from the expectations set out within the forward-looking statements. Ahead-looking statements contained herein are supplied for the needs of aiding in understanding the Firm and its enterprise, operations, dangers and monetary efficiency and to current details about administration’s present expectations and plans regarding the long run and such info might not be acceptable for different functions. Materials danger elements and assumptions embody these set out in AQN’s Annual Info Kind and Annual Administration Dialogue and Evaluation for the 12 months ended December 31, 2023, and Administration Dialogue and Evaluation for the three and 9 months ended September 30, 2024, every of which is on the market on SEDAR+ and EDGAR. Given these dangers, undue reliance shouldn’t be positioned on these forward-looking statements, which apply solely as of their dates. Apart from as particularly required by legislation, AQN undertakes no obligation to replace any forward-looking statements to replicate new info, subsequent or in any other case.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20241211285427/en/

Investor Inquiries:
Brian Chin
Vice President, Investor Relations
Algonquin Energy & Utilities Corp.
E-mail: InvestorRelations@APUCorp.com
Phone: (905) 465-4500

Media Inquiries:
Stephanie Bose
Director, Company Communications
Liberty
E-mail: Company.Communications@libertyutilities.com
Phone: (905) 465-4500

Supply: Algonquin Energy & Utilities Corp.