UPDATE 2-Starboard Value nominates three candidates to Algonquin Power's board

(Updates March 21 story to add Algonquin's statement in paragraph 5)

March 21 (Reuters) - Activist investor Starboard Value has nominated three candidates to the board of Canadian utility Algonquin Power & Utilities Corp, the hedge fund, which is the single largest shareholder, said on Thursday.

This is Starboard's latest push for changes at the company, and comes months after it joined activist investor Corvex Management in urging Algonquin to sell a majority of its renewable assets to reduce debt and improve earnings.

The company had in August said it was considering a sale of its renewable energy unit and announced its CEO's resignation.

"The company has made several important changes ... however, this has not been an easy engagement, with certain influential members of the board impeding progress and the majority of the board either passive or complicit," Starboard, which has a 9% stake, said.

Algonquin said the board's corporate governance committee would review the proposed nominees. The nominees are Brett Carter, Chris Lopez and Rob Schriesheim.

The company's shareholder meeting is scheduled for June 4.

(Reporting by Arunima Kumar in Bengaluru, additional reporting Roshia Sabu; Editing by Devika Syamnath)