Quantum Utility Generation Completes the Acquisition of Combined Cycle Generation Portfolio in Florida

Quantum Utility Generation Completes the Acquisition of Combined Cycle
Generation Portfolio in Florida

HOUSTON, TEXAS, April 16, 2013 (GLOBE NEWSWIRE) -- Quantum Utility Generation,
LLC ("QUG") completed the acquisition of three combined cycle natural
gas-fired generation and cogeneration projects located in Florida from
affiliates of Atlantic Power Corporation ("Atlantic"). The three projects
being acquired total approximately 400 megawatts and are each currently under
contract with a Florida investor-owned utility:

- Auburndale Power Partners, Limited Partnership, (155MW; contracted to
Progress Energy Florida)

- Lake Cogen, Ltd. (121MW; currently contracted to Progress Energy
Florida), and

- Pasco Cogen, Ltd. (121MW; currently contracted to Tampa Electric Co.)

"All three projects continue to generate significant free cash flow through
the remaining terms of their power sales agreements which facilitated an
attractive acquisition financing. As the contracts expire over the next
several years on each of these operationally flexible, low heat rate power
projects, QUG's intent is to structure new power sales agreements with
regional utilities." said Sean O'Donnell, QUG's CFO. 

About Quantum Utility Generation:

Quantum Utility Generation, LLC is an operating company based in Houston,
Texas that was established to invest in the North American power generation
space, and is co-funded by Quantum Energy Partners, a private equity fund with
more than $6.5 billion in commitments, the Canada Pension Plan Investment
Board, which manages $170 billion on behalf of the Canada Pension Plan, and
management. QUG's approach to investments and operations capitalizes on the
deep industry experience of our team to provide investor-owned and public
power customers with a unique set of physical, financial and commercial
options through structured transactions involving our portfolio of assets.
QUG's current portfolio interests include the Quantum Choctaw Power project, a
760 MW combined cycle generation facility in Mississippi, the Hopewell and
Portsmouth projects, two 120 MW scrubbed coal-fired plants in Virginia, and
advanced stage, contracted development projects involving solar and wind
generation. For more information, please see our website at www.quantumug.com.

Quantum Utility Generation, LLC
 
Press spacebar to pause and continue. Press esc to stop.