Atlantic Power Corporation Announces Interim Chief Financial Officer and Interim Chief Information Officer
13 Juli 2011 - 10:11PM
Business Wire
Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic
Power”) today announced the appointment of Lisa Donahue of Alix
Partners as interim Chief Financial Officer. Ms. Donahue has
extensive experience working with independent power and other
energy related companies and will be especially instrumental in
supporting the integration of Capital Power Income L.P. into
Atlantic Power.
“We are pleased that Lisa was available to assist us in a broad
range of financial and accounting areas while our CFO search
continues to progress as planned,” said Barry Welch, President
& CEO of Atlantic Power. “Lisa’s extensive experience will be
extremely useful to the financial and operational planning of the
new combined Atlantic Power. We are excited to have her focus and
energy on board, and we believe that Lisa’s ability to step into a
company and add value on day one will be invaluable as we move
forward with this transaction.”
In addition to the naming of an interim CFO, Atlantic Power also
announced the appointment of Charles W. Poppe, Jr. as interim Chief
Information Officer. Mr. Poppe most recently served as CIO for
Goldman, Sachs and Company’s independent power subsidiary,
Cogentrix Energy LLC, where his duties included integration of
acquired assets into the Cogentrix platform, governance and
process, and compliance with regulatory obligations.
“Anticipating and planning IT issues is essential to a
successful integration of CPILP and Atlantic Power IT,” said Barry
Welch. “Charlie’s knowledge of architecture and his experience
integrating acquisitions will allow him to provide strong guidance
throughout the integration and a firm foundation for our technology
platform. We are delighted to add him to our transition team.”
About Atlantic Power
Atlantic Power Corporation owns and operates a diverse fleet of
power generation and infrastructure assets in the United States.
Our power generation projects sell electricity to utilities and
other large commercial customers under long-term power purchase
agreements, which seek to minimize exposure to changes in commodity
prices. Our power generation projects in operation have an
aggregate gross electric generation capacity of approximately 1,948
megawatts in which our ownership interest is approximately 871 MW.
Our corporate strategy is to generate stable cash flows from our
existing assets and to make accretive acquisitions to sustain our
dividend payout to shareholders, which is currently paid monthly at
an annual rate of Cdn$1.094 per share. Our current portfolio
consists of interests in 12 operational power generation projects
across nine states, one biomass project under construction in
Georgia, and an 84-mile,500 kilovolt electric transmission line
located in California. Atlantic Power also owns a majority interest
in Rollcast Energy, a biomass power plant developer with several
projects under development.
Atlantic Power trades on the New York Stock Exchange under the
symbol AT, on the Toronto Stock Exchange under the symbol ATP and
has a market capitalization of approximately $1.0 billion. For more
information, please visit the Company’s website at
www.atlanticpower.com.
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