ATCO Power was established in 1988 to pursue independent power projects worldwide. The newly deregulated market in the United Kingdom provided the company with its first major opportunity, a 1,000 megawatt (MW) natural gas-fired combined-cycle plant at Barking near London.
The company has since established itself in the United Kingdom, Australia and Canada in numerous partnerships, which provide an impressive showcase for ATCO Power's cogeneration installations. Beginning January 2011, ATCO's Australia based power generation stations were transferred to ATCO Australia.
Following deregulation in Alberta, the formerly regulated assets of ATCO’s thermal and gas-fired plants were amalgamated under the ATCO Power umbrella as of January 1, 2001. ATCO Power currently has an ownership position in 13 power stations in Alberta, British Columbia, Saskatchewan and Ontario with a combined capacity of approximately 3,591 MW and a total ownership interest in 2,286 MW.