Atlantic Power Corporation Announces Agreement to Sell its Interests in the Path 15 Transmission Project

Atlantic Power Corporation Announces Agreement to Sell its Interests in the 
Path 15 Transmission Project 
BOSTON, March 11, 2013 /CNW/ - Atlantic Power Corporation (NYSE: AT) (TSX: 
ATP) ("Atlantic Power" or the "Company") announced today that a subsidiary of 
the Company has entered into a purchase and sale agreement (the "Agreement") 
with Duke-American Transmission Company, LLC, a joint venture between Duke 
Energy and American Transmission Co., to sell the Company's interests in the 
Path 15 transmission project (the "Sale"), including Atlantic Path 15 
Transmission, LLC, Atlantic Holdings Path 15, LLC and Atlantic Path 15, LLC 
(collectively, "Path 15"). Atlantic Power expects to receive net cash proceeds 
from the Sale, including working capital adjustments, of approximately $56 
million. All project level debt issued by Path 15, totaling $137 million as of 
December 31, 2012, will transfer with the Sale. The Company intends to use the 
net proceeds from the Sale for general corporate purposes and to invest in 
future accretive growth opportunities. The Agreement contains representations, 
warranties and indemnification obligations that are customary in the Company's 
industry. The Sale is subject to customary closing conditions and approvals, 
including approval from the Federal Energy Regulatory Commission and certain 
lender approvals, and is expected to close in the second quarter of 2013. 
"As we continue to strengthen our renewable and natural gas portfolio, the 
Path 15 transmission project is no longer a part of the strategic core to our 
business model," said Barry Welch, President and CEO of Atlantic Power. "Since 
acquiring the project in 2006, we have successfully completed two FERC rate 
case filings and have received relatively stable cash flow. However, the sale 
of Path 15, which is the most highly-levered asset in our portfolio, will 
allow us to maintain a focus on generation going forward." 
About Atlantic Power 
Atlantic Power owns and operates a diverse fleet of power generation and 
infrastructure 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 PPAs, 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 3,366 MW in 
which its aggregate ownership interest is approximately 2,117 MW. These totals 
exclude projects designated as held for sale at December 31, 2012 and its 40% 
interest in the Delta-Person generating station for which Atlantic Power 
entered into an agreement to sell in December 2012. On January 30, 2013, 
Atlantic Power and certain of its subsidiaries entered into an agreement to 
sell their interests in the Auburndale Power Partners, L.P., Lake CoGen, Ltd 
and Pasco CoGen, Ltd. projects. As described above, Atlantic Power has entered 
into a purchase and sale agreement to sell its 100% interest in its Path 15 
transmission project. Its current portfolio of continuing operations consists 
of interests in twenty nine operational power generation projects across 
eleven states in the United States and two provinces in Canada. In addition, 
Atlantic Power has one 53 MW biomass project under construction in Georgia. 
Recently, Atlantic Power acquired a wind and solar development company, 
Ridgeline Energy, Inc., located in Seattle, Washington, which will enhance its 
ability to develop, construct, and operate wind and solar energy projects 
across the United States and Canada. Atlantic Power also owns a majority 
interest in Rollcast Energy, a biomass power plant developer in North Carolina. 
Atlantic Power has a market capitalization of approximately $650 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 
Atlantic Power's website at or contact: 
Atlantic Power Corporation  Amanda Wagemaker, Investor Relations  (617) 
Copies of financial data and other publicly filed documents get filed on SEDAR 
at or on EDGAR at 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 
forward-looking information as defined under Canadian securities law 
(collectively, "forward-looking statements"). 
Certain statements in this news release may constitute "forward-looking 
statements", which reflect the expectations of management regarding future 
growth, results of operations, performance and business prospects and 
opportunities of the Company and its projects and other matters.  These 
statements, which are based on certain assumptions and describe the Company's 
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. Examples of such statements in this press release include, 
but are not limited, to statements with respect to the following: 

    --  the expectation that the Company will successfully sell the
        Path 15 project on the contemplated timetable and at the
        expected price; and
    --  the expectation that the Company will use net proceeds from the
        Sale to invest in future accretive growth opportunities.

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.  A number of factors 
could cause actual results to differ materially from the results discussed in 
the forward-looking statements, including, but not limited to, the factors 
discussed under "Risk Factors" in the Company's periodic reports as filed with 
the U.S. Securities and Exchange Commission and applicable securities 
regulatory authorities in Canada from time to time.  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.

PRN Photo Desk,

SOURCE: Atlantic Power Corporation

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CO: Atlantic Power Corporation
ST: Massachusetts

-0- Mar/11/2013 13:01 GMT

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