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
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.
SOURCE Atlantic Power Corporation