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UPDATE 1-Suncor to sell wind and solar assets to Canadian Utilities for $536 mln

(Adds details on deal)

Oct 5 (Reuters) - Suncor Energy Inc said on Wednesday it would sell its wind and solar assets in Canada to Canadian Utilities Ltd for C$730 million ($536.17 million).

The divestment will help focus on energy expansion, hydrogen and renewable fuels, Suncor said, as the company progresses to net-zero by 2050.

The sale is expected to close in the first quarter of 2023.

The deal will likely add to earnings and cash flow in 2023, Canadian Utilities, an ATCO company, said.

The sale includes the new 202 megawatt (MW) Forty Mile wind project in Alberta, scheduled to be operational by the end of this year, and a majority interest in the Adelaide wind facility in Ontario. (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)