The parent company of Belco has a new name.

Ascendant Group Limited, also the parent of AG Holdings Limited, will operate under the name Liberty Group Limited, effective today.

Liberty is the regulated services group of Algonquin Power & Utilities Corp, the Canadian company that purchased Ascendant last November.

The company said Belco and the AG Holdings subsidiaries – Aircare, iEPC and IFM – will retain their current names.

By changing the name of Ascendant to Liberty, the local company said it is becoming further aligned with its global parent.

It added that Algonquin’s purpose is to better the lives of its customers and communities and to provide sustainable energy.

In Bermuda, the company said, Liberty has embraced this purpose and prioritised its commitment to sustainability.

Wayne Caines, president of the newly named Liberty, said: “Bermuda is not immune to the effects of climate change; sustainability is crucial to our survival.

“As we join forces with our parent company in the fight against the world’s looming climate crisis, it is time for us to unite around one strong brand that represents our leadership in building a sustainable energy future.

“While we are immensely proud of what the company has achieved under the Ascendant banner, we are ready to adopt the Liberty name.

“We aspire to our purpose and will make it a reality here in Bermuda as Liberty.”