Atlantic Power to Sell Manchief Plant to Xcel Energy for $45.2 Million
May 28 2019 - 8:16AM
Dow Jones News
By Colin Kellaher
Atlantic Power Corp. (AT, ATP.T) Tuesday said it agreed to sell
its Manchief power plant in Colorado to a unit of Xcel Energy Inc.
(XEL) for $45.2 million.
Xcel's Public Service Co. of Colorado unit, the current customer
of the Manchief plant under a power-purchase agreement, will
complete the acquisition in May 2022 after that agreement expires,
Atlantic Power said.
Atlantic Power, a Dedham, Mass., power producer, has owned the
300-megawatt generating facility near Brush, Colo., since its 2011
acquisition of Capital Power Income LP.
The company said the sale eliminates uncertainty about revenue
after the power-purchase agreement expires and supports its plans
to reduce debt.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 28, 2019 08:01 ET (12:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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