TRP expands into solar

Article Excerpt

TC ENERGY INC., $60.08, is a buy. The company (Toronto symbol TRP; Shares outstanding: 983.5 million; Market cap: $58.9 billion; TSINetwork Rating: Above Average; Dividend yield: 6.0%; www.tcenergy.com.) has announced that it will build its first solar power project in Canada. Located in Aldersyde, Alberta, which is south of Calgary, the new Saddlebrook solar project will have a total capacity of 81 megawatts. To put that in context, its existing power plants generate a total of 4,200 megawatts. TC expects to complete the $146 million project by the end of 2023. Investing in solar power will improve TC’s profile with big investors like pension plans. They increasingly focus on firms with high environmental, social, and governance (ESG) scores. TC Energy is still a buy. buy…