TORONTO, ONTARIO, May 19, 2005 (CCNMatthews via COMTEX) -- Atlantic Power Corporation (TSX:ATP.UN) (the "Company") announced today that Steven Chwiecko had joined as Managing Director responsible for Asset Management & Acquisitions.
"Steve is a seasoned veteran with a wealth of experience in finance, development and restructuring within the North American Independent Power business. He will significantly strengthen our ability to execute our business plan aimed at maximizing cash flows from existing assets and acquiring appropriate projects to generate growth," commented Barry Welch, President and CEO.
Mr. Chwiecko's most recent assignment was Chairman of the Audit Committee of National Energy & Gas Transmission's Board of Directors. Previously, as a Senior Vice President with El Paso Merchant Energy, he worked on their Eagle Point acquisition as well as the Newark Bay acquisition and its successful Cedar Brakes power purchase agreement restructuring. Before that, while Senior Vice President and CFO at Adirondack Hydro Development Corporation, he was one of five negotiators representing all hydropower plants in the Master Restructuring Agreement negotiations with Niagara Mohawk Power Corporation (NIMO). This was a landmark restructuring of substantially all of NIMO's obligations with independents plants.
Mr. Chwiecko has a Bachelor of Science degree from St. Lawrence University, an MBA from Rochester Institute of Technology, and a Certified Public Accountant (CPA) designation.
Atlantic Power Corporation owns interests in a diversified portfolio of 15 power generation projects located primarily in major markets in the United States. The Company's objectives are to sustain and grow its cash distributions over the long term by enhancing the performance of its existing assets and by making accretive acquisitions.
When used in this news release, the words "anticipate", "expect", "project", "believe", "estimate", "forecast" and similar expressions are intended to identify forward-looking statements, which include statements relating to the projects and potential acquisitions by the Company. Such statements are subject to certain risks, uncertainties and assumptions pertaining to operating performance, regulatory parameters, weather and economic conditions and, in the case of potential acquisitions, risks relating to sourcing, financing and completing acquisitions.
Atlantic Power Corporation Barry Welch President and CEO (617) 531-6379 email@example.com
NEWS RELEASE TRANSMITTED BY CCNMatthews