The Acquisition will increase the Company's ownership interest in the Rockland project to a 50% managing member interest from 30%, and add a 12.5% interest in Ridgeline's 125 MW Goshen North project. As part of the acquisition of Ridgeline, the Company will also acquire 100% of Meadow Creek, a 120 MW wind project currently under construction in Idaho, with a commercial operation date ("COD") expected in December 2012.As part of the Acquisition, Atlantic Power will integrate Ridgeline's team of over 30 employees, which has a broad set of competencies essential for the successful identification, resource assessment, development (including permitting), construction and operation of large-scale renewable power projects. Ridgeline was responsible for developing Idaho's first utility scale wind project and has successfully developed three additional wind projects totaling 325 MW, including Rockland and Goshen North. As a part of Atlantic Power, this team will also assist the Company in its assessment and pursuit of other renewable acquisitions and in managing Atlantic Power's growing renewable energy portfolio.
Atlantic Power Corporation Announces Agreement To Acquire Ridgeline Energy Holdings, Inc.
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