Belco owner Ascendant changes name to Liberty 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 Algonquins 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