Our History

1988

Early Days

Algonquin began over twenty years ago, in 1988, when four business partners saw an opportunity for a new business venture in the Independent Power Producer (IPP) industry.

The newly established company began development of a number of hydroelectric projects, the first of which was the Cordova site, in Hastings County, Ontario. Development continued in various parts of Canada focusing on hydro projects.

History 1988
History 1988

2001

Expansion into the Utility Business

In 2001, we expanded our focus beyond power and into utilities through the purchase of regulated water and wastewater treatment facilities in Arizona.

Soon after, our footprint of regulated water and wastewater utilities expanded to include Texas, Missouri, and Illinois.

2004

Constructed First Wind Generation Facility

In 2004, the Company expanded its reach into the wind power sector for the first time with the construction of a 100 MW wind farm located in St. Leon, Manitoba, Canada.

History 1988
History 1988

2009

Purchased First Electric Utility

In 2009, the Company’s water and wastewater utility systems were rebranded and re-launched as “Liberty Water” (later called Liberty Utilities), while its power generation assets were rebranded as “Algonquin Power Co.”

In 2010, Liberty expanded into other regulated utilities with the acquisition of California Pacific Electric Company, its first electric distribution utility in Lake Tahoe, California. Soon after, Liberty expanded into natural gas utilities in New Hampshire, Missouri, Iowa, Arkansas, Georgia, Massachusetts, and Illionois (2011-2012).

2014

Constructed First Solar Facility

In 2014, the Company expanded into the solar power sector for the first time with the construction of its first solar facility in Cornwall, Ontario, Canada.

History 1988
History 1988

2017

Acquired Empire District Electric Company

In January of 2017, Algonquin. completed its acquisition of the Empire District Electric Company. This transformative growth opportunity saw significant expansion of the Company’s regulated utility and unregulated generation footprints in the central United States and the addition of operations in two new states (Kansas and Oklahoma).

In the Spring of 2017, the renewable generation business announced that it would rebrand to “Liberty Power” in an effort to further align itself with sister organization, Liberty Utilities.

2017-2018

AAGES Joint Venture and Atlantica Investment

In November 2017, Algonquin announced an agreement to create a joint venture (“AAGES”) with Spain-based Abengoa with a mandate to identify, develop, and construct clean energy and water infrastructure assets with a global focus.

Algonquin also entered into agreements to purchase from Abengoa an aggregate 41.5% equity interest in Atlantica Yield. Final transactions related to this interest closed in the third quarter of 2018.

History 1988
History 1988

2019

Continued Natural Gas Expansion and Sustainability Focus

In January, Algonquin’s renewable energy group issued C$300 million of senior unsecured debentures representing the company’s inaugural “green bond.”

In June, Algonquin’s regulated utility business received approval to proceed with acquiring three wind farms which, once completed, would generate up to 600 megawatts of renewable energy in Missouri and Kansas.

In the fall, Algonquin acquired two new natural gas companies: New Brunswick Gas in Canada and St. Lawrence Gas in New York. Together, these acquisitions expanded the company’s natural gas distribution footprint and added over 28,000 customer connections.

2020

Leadership Succession and International Expansion

In February, Algonquin announced its leadership succession plan with Arun Banskota taking on the role of CEO in July, after the retirement of Ian Robertson.

In April, Algonquin announced a US$500,000 donation to support communities within its service territories during the COVID-19 pandemic.

In the fall, Algonquin completed two international acquisitions: Bermuda Electric Light Company (BELCO) and ESSAL, a water and wastewater provider in Chile. Together, these acquisitions added 260,000+ customer connections, bringing overall customer connections to 1 million+. The company also announced the rebranding of its two service groups to “Liberty.”

History 1988

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