Atlantic Power Corporation Announces Date for Release of First Quarter 2021 Results

Rhea-AI Summary

Atlantic Power Corporation (NYSE: AT) will announce its financial results for Q1 2021 on May 6, 2021, after market close. The Company will not hold a conference call due to an upcoming acquisition by affiliates of I Squared Capital Advisors, targeted for closing on May 14, 2021. Atlantic Power operates power generation assets across the U.S. and Canada, selling electricity under long-term contracts. Approximately 75% of the projects are fully owned and managed by the Company, minimizing commodity price exposure through contractual arrangements.

Positive

• Upcoming acquisition by I Squared Capital may provide growth opportunities.
• Long-term Power Purchase Agreements (PPAs) help secure revenue.
• Diverse energy portfolio reduces risk exposure.

Negative

• Absence of a conference call may limit investor communication.
• Dependence on external acquisition could affect operational independence.

DEDHAM, Mass., April 30, 2021 /PRNewswire/ -- Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") plans to release its financial results for the three months ended March 31, 2021 after the market closes on the afternoon of Thursday, May 6, 2021. The Company does not plan to hold a conference call due to the pending acquisition of the Company by certain affiliates (collectively the "Purchasers") of infrastructure funds managed by I Squared Capital Advisors (US) LLC (the "Transaction"). Closing of the Transaction is targeted for May 14, 2021.

About Atlantic Power

Atlantic Power is an independent power producer that owns power generation assets in eleven states in the United States and two provinces in Canada. The Company's generation projects sell electricity and steam to investment-grade utilities and other creditworthy large customers predominantly under long–term PPAs that have expiration dates ranging from 2021 to 2043. The Company seeks to minimize its exposure to commodity prices through provisions in the contracts, fuel supply agreements and hedging arrangements. The projects are diversified by geography, fuel type, technology, dispatch profile and offtaker (customer). Approximately 75% of the projects in operation are 100% owned and directly operated and maintained by the Company. The Company has expertise in operating most fuel types, including gas, hydro, and biomass, and it owns a 40% interest in one coal project. 

Atlantic Power's shares trade 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 
Investor Relations
(617) 977-2700 
info@atlanticpower.com

Copies of the Company's financial data and other publicly filed documents are available 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.

View original content:http://www.prnewswire.com/news-releases/atlantic-power-corporation-announces-date-for-release-of-first-quarter-2021-results-301281125.html

SOURCE Atlantic Power Corporation

FAQ

When will Atlantic Power release its Q1 2021 financial results?

Atlantic Power will release its financial results for the three months ended March 31, 2021, on May 6, 2021.

What is the acquisition related to Atlantic Power?

The acquisition involves certain affiliates of infrastructure funds managed by I Squared Capital Advisors and is targeted for closing on May 14, 2021.

What does Atlantic Power specialize in?

Atlantic Power specializes in operating power generation assets, including gas, hydro, and biomass.

How does Atlantic Power mitigate commodity price risk?

Atlantic Power minimizes commodity price exposure through long-term contracts, fuel supply agreements, and hedging arrangements.

Where can I find Atlantic Power's financial data?

Atlantic Power's financial data is available on SEDAR and EDGAR, as well as on the Company's website.