BOSTON, July 11, 2012 /PRNewswire/ -- Atlantic Power
Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the
"Company") today announced that Terrence ("Terry") Ronan has been
appointed Executive Vice President – Chief Financial Officer,
effective August 20, 2012. In
this position, Mr. Ronan will be responsible for all of
finance-related functions as well as playing a central role in the
development and execution of Atlantic Power's operational and
strategic initiatives. Mr. Ronan succeeds Lisa Donahue, who has served as the Company's
Interim Chief Financial Officer since July, 2011. Ms. Donahue
will continue to be available as a consultant to the Company for
transition matters.
"Terry is a great addition to our management team and brings a
valuable combination of strong financial skills, senior corporate
experience and an extensive knowledge of the energy, utility,
natural resources and infrastructure sectors," said Barry Welch, President and Chief Executive
Officer of Atlantic Power. "In particular, we look forward to
benefiting from Terry's deep banking experience and track record of
effective leadership as we continue to strengthen the Company's
development and continue to deliver long-term value to all of our
stakeholders."
"On behalf of the entire Board and management team, I would also
like to thank Lisa for her many contributions to Atlantic Power,
especially her efforts in the financial and organizational planning
for the new, combined Atlantic Power."
About Terrence Ronan
Terrence Ronan is a financial
professional with more than 20 years of management and capital
raising experience. Most recently, Mr. Ronan served as
Managing Director-Finance and Assistant Treasurer at Plains All
American Pipeline, L.P., a publicly traded master limited
partnership engaged in the transportation, storage, terminalling
and marketing of crude oil, refined products and liquefied
petroleum gas and other natural gas related products. Prior
to that, Mr. Ronan served as President and Chief Executive Officer
of SemGroup, L.P. where he oversaw the operations of the privately
held partnership engaged in the transportation, storage,
terminalling and marketing of crude oil, LPG and natural gas.
From 2006-2008, Mr. Ronan served as Managing Director at Merrill
Lynch Capital where he co-founded the start-up Energy Finance
practice, in which he was responsible for origination activities in
the midstream and E&P sectors. Mr. Ronan also spent 14
years at Bank of America, culminating in his role as Managing
Director where he focused on financing industry leading E&P,
midstream and refining and marketing companies.
In addition to his corporate career, Mr. Ronan served in the
U.S. Navy from 1981 to 2007, retiring after 26 years of service
with the rank of Captain. Mr. Ronan graduated with a B.S.
from Bates College and later received
an MBA from the University of Michigan
Ross School of Business.
About Atlantic Power
Atlantic Power is a leading publicly traded, power generation
and infrastructure company with a well diversified portfolio of
assets in the United States and
Canada. The Company's 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.
The net generating capacity of the Company's projects is
approximately 2,140 MW, consisting of interests in 31 operational
power generation projects across 11 states and 2 provinces and an
84-mile, 500 kilovolt electric transmission line located in
California. In addition, the Company has one 53 MW biomass
project under construction in Georgia and one approximately 300 MW wind
project under construction in Oklahoma. Atlantic Power also
owns a majority interest in Rollcast Energy, a biomass power plant
developer in Charlotte, NC. Atlantic Power is incorporated in
British Columbia, headquartered in
Boston and has offices in
Chicago, Toronto, Vancouver and San
Diego.
The Company's corporate strategy is to increase the value of the
company through accretive acquisitions in North American markets
while generating stable, contracted cash flows from its existing
assets to sustain its dividend payout to shareholders. The
Company's dividend is currently paid monthly at an annual rate of
Cdn$1.15 per share.
Atlantic Power has a market capitalization of approximately
$1.6 billion and trades 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
Amanda Wagemaker, Investor
Relations
(617) 977-2700
info@atlanticpower.com
SOURCE Atlantic Power Corporation