Algonquin Power To Sell Renewables Division As Losses Mount ...Middle East

An Ontario-based utility company is getting out of the renewables business after it lost more than $250 million in Q2, the company said this week. The company's board chairman, Kenneth Moore, said that the company will now focus on being a pure-play utility company. Algonquin Power and Utilities Corp reported earnings losses attributable to shareholders of $253.2 million in Q2, after sustaining a $33.4 million loss in the same quarter last year. The Q2 loss was larger than its total loss through the full year 2022. The company reported that the…

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