BOSTON, May 5, 2014 /CNW/ -
Atlantic Power Corporation (TSX: ATP; NYSE: AT) (the "Company" or
"Atlantic Power") owns and operates a diverse fleet of power
generation assets in the United States and Canada. As previously disclosed, the Company
continues to focus on how to best position itself to maximize value
for its shareholders. In that framework, the Company is considering
the relative merits of additional debt reduction, investment in
accretive growth opportunities (both internal and external), and
other allocation of its available cash. Consistent with the
objective of acting in the best interests of the Company, its
shareholders and its other stakeholders, the Company, as also
previously disclosed, is committed to evaluating a broad range of
potential options. These potential options include further selected
asset sales or joint ventures to raise additional capital for
growth or potential debt reduction, the acquisition of assets,
including in exchange for shares, the dividend level, as well as
broader strategic options, including a sale or merger of the
Company. The Company has engaged Goldman, Sachs & Co. and
Greenhill & Co., LLC to assist the Company in its evaluation of
these potential options. No assurance can be given as to how the
evaluation of any such potential options may evolve. The Company
does not intend to comment further on its evaluation of potential
options until it otherwise deems further disclosure is appropriate
or required.
About Atlantic Power
Atlantic Power owns and operates a diverse fleet of power
generation assets in the United States and Canada. Atlantic Power's power generation
projects sell electricity to utilities and other large commercial
customers largely under long-term power purchase agreements, which
seek to minimize exposure to changes in commodity prices. Its power
generation projects in operation have an aggregate gross electric
generation capacity of approximately 2,945 MW in which its
aggregate ownership interest is approximately 2,024 MW. Its current
portfolio consists of interests in twenty-eight operational power
generation projects across eleven states in the United
States and two provinces in Canada.
Atlantic Power has a market capitalization of approximately
$440
million 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
Copies of financial data and other publicly filed documents are
filed 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.
Cautionary Note Regarding Forward-looking Statements
To the extent any statements made in this news release contain
information that is not historical, these statements are
forward-looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, and Section 21E of the
U.S. Securities Exchange Act of 1934, as amended and under Canadian
securities law (collectively, "forward-looking statements").
Statements in this news release, including statements regarding
the Company's evaluation of a broad range of options, may
constitute "forward-looking statements". These statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of the words "may," "will," "project," "continue," "believe,"
"intend," "anticipate," "expect" or similar expressions that are
predictions of or indicate future events or trends and which do not
relate solely to present or historical matters.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not or the times at or by which such
performance or results will be achieved. Please refer to the
factors discussed under "Risk Factors" in the Company's periodic
reports as filed with the Securities and Exchange Commission from
time to time for a detailed discussion of the risks and
uncertainties affecting our Company. Although the forward-looking
statements contained in this news release are based upon what are
believed to be reasonable assumptions, investors cannot be assured
that actual results will be consistent with these forward-looking
statements, and the differences may be material. These
forward-looking statements are made as of the date of this news
release and, except as expressly required by applicable law, the
Company assumes no obligation to update or revise them to reflect
new events or circumstances.
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SOURCE Atlantic Power Corporation