News Release: HAMILTON, Bermuda (December 4, 2020) – Ascendant Group Limited (“Ascendant” or the “Company”) is pleased to announce the appointment of Wayne Caines to the newly created role of Ascendant President. He will join the Company on Monday, December 7.

The new role comes following the acquisition of Ascendant by Algonquin Power & Utilities Corp. (“Algonquin”). With the acquisition, Ascendant and its subsidiaries, including Bermuda Electric Light Company Limited, are now poised to move forward as a sustainable organisation of the future. The addition of an Ascendant President aligns Ascendant with Algonquin’s business model of having a local leader ensure the business is focused on local customer needs.

Algonquin committed to local leadership of Ascendant; today, they are honouring that commitment by appointing Mr. Caines to the position of Ascendant President. M Caines, a sitting Member of Parliament, was selected because of his experience and knowledge in the Bermudian business sphere. Mr Caines was called to the Bermuda Bar in 2001. He is currently Chairman of the Board of the Bermuda Tourism Authority and sits on the board of Polaris Holding Company Ltd, ILS Capital and Prospero RE. Most recently, he was the CEO of Seniac Consulting and prior to that, he was the CEO of Digicel Bermuda.

Outside of work, Mr Caines is known for giving back to the community including supporting the Hamilton SDA General Education (GED) programme and children in need with school supplies and haircuts.

Mr Barclay Simmons, Chairman of the Board of Directors of Ascendant, said: “I am confident that Wayne Caines will be a valuable asset to Ascendant and its subsidiaries. With strong business acumen, a passion for community involvement, and a connection with the people of Bermuda, Wayne is uniquely placed to bring Ascendant in line with our vision for the future.”

Arun Banskota, CEO of Algonquin added: “We are strategic in our mission to meaningfully contribute to a sustainable energy future. We deliver on our strategies with the help of our people, who are at the core of everything we do. By adding Wayne to our team, we are in a stronger position to move Bermuda into the next phase of its sustainable future.”