BOSTON, March 27, 2013 /CNW/ - Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") today announced that Edward ("Ned") Hall has been appointed Executive Vice President – Chief Operating Officer, effective April 2, 2013. In this position, Mr. Hall will be responsible for all of Atlantic Power's operations, asset management, environmental health & safety and engineering functions. As a member of the executive management team, he will also play a central role in the development and execution of Atlantic Power's operational and strategic initiatives.
"Ned is a great addition to our executive management team, bringing a valuable combination of operational, asset management and development capabilities, senior corporate experience and extensive knowledge and working network within the independent power, utility and infrastructure sectors," said Barry Welch, President and Chief Executive Officer of Atlantic Power. "Bringing Ned onboard continues to strengthen our operational focus on optimizing performance of our existing plants and finding synergies among existing and new plants we acquire and build. At AES he managed 3,400 people operating 28,000MW across twenty countries with $6 billion of revenue. With such a solid track record of effective leadership in the independent power industry, we expect he will further strengthen the Company's ability to execute its business strategy and deliver long-term value to all of our stakeholders."
About Ned Hall
Ned is an energy industry professional with more than 25 years of management and operational experience. Most recently, Mr. Hall served as Executive Vice President - Chief Operating Officer Global Generation at AES Corporation, a publicly traded global power company. Prior to that, Mr. Hall held multiple positions at AES Corporation including President, North America, President, Wind Generation and Managing Director, Global Business Development.
Mr. Hall graduated with a B.S. in Mechanical Engineering from Tufts University and later received an MBA from the Massachusetts Institute of Technology's Sloan School of Management.
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 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 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. On March 8, 2013, Atlantic Power entered into a purchase and sale agreement to sell its 100% interest in its Path 15 transmission line. Its current portfolio of continuing operations consists of interests in 29 operational power generation projects across 11 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 the Company's website at www.atlanticpower.com or contact:
Atlantic Power Corporation
Amanda Wagemaker, Investor Relations
SOURCE: Atlantic Power Corporation
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