DEDHAM, Mass., Dec. 18, 2020 /PRNewswire/ — Atlantic Power Corporation (TSX: ATP) (NYSE: AT) (the “Company” or “Atlantic Power”) and Atlantic Power Preferred Equity Ltd (“APPEL”) announced today that the Toronto Stock Exchange (“TSX”) has approved Atlantic Power’s renewal of its normal course issuer bid (“NCIB”) for the following series of the Company’s convertible unsecured subordinated debentures and its common shares and APPEL’s renewal of its NCIB for each of the following series of its preferred shares (collectively, the “Public Securities”):

a)     the 6.0% Series E Convertible Unsecured Subordinated Debentures due January 31, 2025 (the “6.0% Cdn$115.0 Million Debentures”) (TSX: ATP.DB.E).

b)    the common shares (the “Common Shares”) (TSX:ATP);

c)     the 4.85% Cumulative Redeemable Preferred Shares, Series 1 (the “Series 1 Preferred Shares”) (TSX: AZP.PR.A);

d)    the Cumulative Rate Reset Preferred Shares, Series 2 (the “Series 2 Preferred Shares”) (TSX: AZP.PR.B); and

e)     the Cumulative Floating Rate Preferred Shares, Series 3 (the “Series 3 Preferred Shares”) (TSX: AZP.PR.C).

Atlantic Power Corporation Provides Update on Cadillac and Oxnard Plants

Cadillac plant returned to service

DEDHAM, Mass., Sept. 2, 2020 /PRNewswire/ — Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic Power” or the “Company”) provides the following update on its Cadillac and Oxnard plants:

Cadillac is an approximately 40 megawatt biomass plant located in Cadillac, Michigan. The plant had been out of service following a fire in September 2019. Reconstruction was completed in late July and the plant was re-commissioned, tested and returned to service on August 20, 2020. The cost of new equipment and repairs to the plant was in line with the Company’s estimate and Cadillac has been operating well since its return to service. The Company expects that it will settle the Cadillac insurance claim by the end of September, which would allow it to record business interruption insurance recoveries to income in the third quarter of 2020.

Oxnard is an approximately 49 megawatt gas-fired plant located in Oxnard, California. The plant is currently operating under a Reliability Must Run (RMR) agreement with the California Independent System Operator through December 31, 2020. The RMR agreement is based on the plant’s cost of service and is subject to the approval of the Federal Energy Regulatory Commission (FERC), which is pending.