FILE PHOTO: Windmills generate electricity in the windy rolling foothills of the Rocky Mountains near the town of Pincher Creek, Alberta, September 27, 2010. REUTERS/Todd Korol
“They recognize oil and gas is a sunset sector. It’s not going away anytime soon, but they don’t expect any growth long-term,” said Tim Nash, a Toronto financial planner focusing on sustainable investments. Others, like Innergex and Boralex, have gained more than 30% and 50% respectively even though they lost money last year.
Algonquin, which is both a conventional utility and green energy producer, hopes to strike similar deals with other oil producers who are attracted to renewable power’s falling costs, said Chief Executive Arun Banskota.Such partnerships interest Canadian Natural Resources Ltd, said Tim McKay, president of Canada’s biggest crude producer.
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