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CANADIAN CU UTILITIES LIMITED An ATCO Company News Release October 28 , 2021 CANADIAN UTILITIES REPORTS HIGHER THIRD QUARTER 2021 ADJUSTED EARNINGS CALGARY , Alberta - Canadian Utilities Limited ( TSX : CU ) ( TSX : CU.X ) Canadian Utilities today announced third quarter 2021 adjusted earnings of $ 88 million ( $ 0.33 per share ) , which were $ 12 million ( $ 0.05 per share ) higher compared to $ 76 million ( $ 0.28 per share ) in the third quarter of 2020 . Higher adjusted earnings in the third quarter of 2021 were mainly due to contributions from the Utilities segment as a result of the June 2021 commencement of LUMA Energy's 15 - year contract to modernize and operate Puerto Rico's electricity transmission and distribution system . Higher levels of inflation in Australia also provided a positive impact to earnings . IFRS earnings attributable to equity owners of the Company were $ 71 million in the third quarter of 2021 , $ 20 million lower compared to 2020. Earnings attributable to equity owners of the Company include timing adjustments related to rate - regulated activities , dividends on equity preferred shares of the Company , unrealized gains or losses on mark - to - market forward and swap commodity contracts , one - time gains and losses , impairments , and items that are not in the normal course of business or a result of day - to - day operations . These items are not included in adjusted earnings . RECENT DEVELOPMENTS • • • • • Invested $ 252 million in capital projects in the third quarter of 2021 , of which 86 per cent was invested in regulated utilities . Announced a partnership with Future Fuel Ltd. to build and operate the Two Hills renewable natural gas ( RNG ) facility north of Vegreville , Alberta . The facility is Canadian Utilities ' first commercial RNG production facility and is a strategic investment in our clean fuels strategy . The facility will combine organic waste from nearby municipalities with agricultural byproducts to produce approximately 230,000 gigajoules per year of renewable natural gas ( enough to fuel 2,500 homes ) . Completed Canada's most northerly off - grid solar project in Old Crow , Yukon with the Vuntut Gwitchin First Nation , reducing diesel use by 189,000 litres annually and providing a clean energy source for decades to come . Acquired the rights to the Empress Solar project , a 39 - MW solar facility under development near Empress , Alberta . The project will provide enough renewable electricity to power more than 11,000 homes . Acquired the development rights to build two solar projects with a combined capacity of 64 - MW in Calgary , Alberta . The Deerfoot and Barlow projects will provide enough renewable electricity to power more than 18,000 homes .