Atlantic Power to sell interest in Mid-Georgia power project

Boston, August 18, 2009 – Atlantic Power Corp. signed a purchase and sale agreement to sell its 50 percent interest in its Mid-Georgia Project to Perennial Power Holdings, Inc. a unit of Sumitomo Corp. for about $29 million in cash.

Mid-Georgia is a 308 MW dual-fuel, combined-cycle cogeneration project located in Kathleen, Georgia.

The closing of the sale is subject to customary closing conditions and is anticipated to occur before the end of 2009.

The project’s other 50 percent owner has also agreed to sell its interest at the same time. Atlantic Power expects to record a book gain on the sale of about $16 million and a tax gain of about $12 million.

Atlantic Power owns interests in a portfolio of 14 power generation projects, and one transmission line located in major markets in the U.S.

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