DEDHAM, Mass.,
Aug. 17, 2018
/PRNewswire/ -- Atlantic Power Corporation (NYSE: AT) (TSX:
ATP) ("Atlantic Power" or the "Company") provides the following
clarification regarding the status of plans for its North Bay and Kapuskasing power plants in Ontario:
As previously disclosed, the Company is marketing both of
the North Bay and Kapuskasing sites to a range of potential
customers or alternate users of the sites. On August 14, 2018, there was a North Bay City
Council hearing to consider the Company's application for a change
in zoning for the North Bay plant,
which would allow for a broader range of possible uses for the
site. At the hearing, although the town planning official
reported accurately on the Company's plans for the site, a
consultant for the Company incorrectly indicated that the Company
had a data center tenant for the North
Bay site. This comment was also reported by local
press the following day. The Company wishes to correct this
misstatement by the consultant by indicating that it does not have
any agreements in place or any prospective agreements for either
the North Bay or Kapuskasing plants. Although its
marketing efforts are continuing, discussions have not progressed
beyond an initial stage. The Company has no plans to re-start
operations at either plant in the near term.
About Atlantic Power
Atlantic Power is an independent power producer that owns
power generation assets in nine states in the United States and two provinces in
Canada. The generation projects sell electricity and steam to
investment-grade utilities and other creditworthy large customers
predominantly under long‑term PPAs that have expiration dates
ranging from 2019 to 2037. The Company seeks to minimize its
exposure to commodity prices through provisions in the contracts,
fuel supply agreements and hedging arrangements. The projects
are diversified by geography, fuel type, technology, dispatch
profile and offtaker (customer). The majority of the projects
in operation are 100% owned and directly operated and maintained by
the Company. The Company has expertise in operating most fuel
types, including gas, hydro, and biomass, and it owns a 40%
interest in one coal project.
Atlantic Power's shares trade on the New York Stock
Exchange under the symbol AT and on the Toronto Stock Exchange
under the symbol ATP. For more information, please visit the
Company's website at www.atlanticpower.com or
contact:
Atlantic Power Corporation
Investor Relations
(617) 977-2700
info@atlanticpower.com
Copies of the Company's financial data and other publicly
filed documents are available on SEDAR at www.sedar.com or on EDGAR
at www.sec.gov/edgar.shtml under "Atlantic Power Corporation" or on
the Company's website.
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SOURCE Atlantic Power Corporation