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Atlantic Power Corporation

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uuid003agtz

Namestring
Atlantic Power Corporation
Legal namestring
Atlantic Power Corporation
Websiteurl
atlanticpower.com
Company typeenum
Public
Founded yearint
2004
Descriptiontext

Atlantic Power Corporation is an independent power producer that owns and operates power generation assets across eleven U.S. states and two Canadian provinces. The portfolio is diversified by geography, fuel type (natural gas, hydroelectric, biomass), technology, dispatch profile, and offtaker, with a 40% interest in one coal project and approximately 75% of operating projects 100% owned and directly operated and maintained by the company.

The company's commercial model centers on long-term physical generation: electricity and steam are sold predominantly to investment-grade utilities and other creditworthy large customers under power purchase agreements with expiration dates ranging from 2021 to 2043. Pricing is negotiated bilaterally with offtakers rather than publicly disclosed, and revenue is effectively recurring on a contracted basis, with the asset base (rather than a software or platform product) serving as the underlying technology platform. The Atlanta-area operation runs facilities such as the Piedmont Biomass Facility as part of its diversified mix.

Atlantic Power Corporation was incorporated in Canada and headquartered in Dedham, Massachusetts. It was publicly listed on the NYSE (AT) and TSX (ATP) until May 14, 2021, when it was acquired by affiliates of infrastructure funds managed by I Squared Capital in a going-private transaction at US$3.03 per common share and C$22.00 per preferred share, after which the shares were delisted from both exchanges. Following the close, Atlantic Power announced the acquisition of Ridgeline Energy in December 2021 to expand into renewables.

Short descriptiontext

Atlantic Power Corporation is an independent power producer that owns and operates diversified gas, hydro, biomass, and coal power generation assets across 11 U.S. states and 2 Canadian provinces, selling electricity and steam to investment-grade utilities under long-term contracts.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersBoston, United States
HQ citystring
Boston
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
independent power producer, electricity generation services, biomass and hydro power, long-term power purchase agreements, natural gas power generation
Industry2 codes
1Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield)
CodeEUACABAIPrimaryYes
2Renewable Energy Infrastructure
CodeFSAAAKAGPrimaryNo
NAICS code2 codes
  • Electric Power Generation22111
  • Hydroelectric Power Generation221111
SIC code2 codes
  • Electric Services4911
  • Cogeneration Services & Small Power Producers4991
Product category
Independent Power Generation
No data
Revenue model1 record
1Electricity and Steam Sales
TypeSubscription Recurring
Description

Atlantic Power generates revenue by selling electricity and steam to investment-grade utilities and other creditworthy large customers under long-term power purchase agreements with expiration dates ranging from 2021 to 2043.

investors.atlanticpower.com
Marketing channels2 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Atlantic Power Corporation is an independent power producer that owns and operates a diversified fleet of power generation assets across 11 U.S. states and 2 Canadian provinces. The company generates and sells electricity and steam from natural gas, hydroelectric, biomass, and a minority coal interest (40%) to investment-grade utilities and other creditworthy large customers under long-term power purchase agreements. Approximately 75% of projects are 100% owned and directly operated and maintained by the company.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Atlantic Power Corporation is an independent power producer that operates a diversified portfolio of power generation assets in eleven U.S. states and two Canadian provinces. The company generates electricity and steam primarily through gas, hydro, and biomass facilities, selling output to investment-grade utilities under long-term power purchase agreements. Atlantic Power also holds a 40% interest in one coal project. The company was acquired by I Squared Capital in May 2021 and delisted from the TSX and NYSE. As a power generation company, Atlantic Power does not offer traditional software products or technology platforms.

Product and service1 record
1Power Generation Assets
Scale indicator3 records

Each record includes

Type, Value, Description, Source

Recent move7 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles2 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Atlantic Power Corporation

Independent Power Generationatlanticpower.com

Atlantic Power Corporation is an independent power producer that owns and operates diversified gas, hydro, biomass, and coal power generation assets across 11 U.S. states and 2 Canadian provinces, selling electricity and steam to investment-grade utilities under long-term contracts.

What Atlantic Power Corporation does

Atlantic Power Corporation is an independent power producer that owns and operates power generation assets across eleven U.S. states and two Canadian provinces. The portfolio is diversified by geography, fuel type (natural gas, hydroelectric, biomass), technology, dispatch profile, and offtaker, with a 40% interest in one coal project and approximately 75% of operating projects 100% owned and directly operated and maintained by the company.

The company's commercial model centers on long-term physical generation: electricity and steam are sold predominantly to investment-grade utilities and other creditworthy large customers under power purchase agreements with expiration dates ranging from 2021 to 2043. Pricing is negotiated bilaterally with offtakers rather than publicly disclosed, and revenue is effectively recurring on a contracted basis, with the asset base (rather than a software or platform product) serving as the underlying technology platform. The Atlanta-area operation runs facilities such as the Piedmont Biomass Facility as part of its diversified mix.

Atlantic Power Corporation was incorporated in Canada and headquartered in Dedham, Massachusetts. It was publicly listed on the NYSE (AT) and TSX (ATP) until May 14, 2021, when it was acquired by affiliates of infrastructure funds managed by I Squared Capital in a going-private transaction at US$3.03 per common share and C$22.00 per preferred share, after which the shares were delisted from both exchanges. Following the close, Atlantic Power announced the acquisition of Ridgeline Energy in December 2021 to expand into renewables.

Atlantic Power Corporation firmographics

Firmographics
Name
Atlantic Power Corporation
Legal name
Atlantic Power Corporation
Website
https://atlanticpower.com
Company type
Public
Founded year
2004
Operating status
Acquired
Headcount range
101–250 employees
Short description
Atlantic Power Corporation is an independent power producer that owns and operates diversified gas, hydro, biomass, and coal power generation assets across 11 U.S. states and 2 Canadian provinces, selling electricity and steam to investment-grade utilities under long-term contracts.
Ownership category
akta.pro rank

Atlantic Power Corporation industry classification

Industry
Product category
Independent Power Generation
NAICS
Electric Power Generation (22111), Hydroelectric Power Generation (221111)
SIC
Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
akta.pro primary industry
Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
akta.pro secondary industry
Renewable Energy Infrastructure (FSAAAKAG)

Keywords

  • Independent power producer
  • Electricity generation services
  • Biomass and hydro power
  • Long-term power purchase agreements
  • Natural gas power generation

Where Atlantic Power Corporation is headquartered

Location

Headquarters

HQ city
Boston
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Atlantic Power Corporation business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

  1. Electricity and Steam Sales: Atlantic Power generates revenue by selling electricity and steam to investment-grade utilities and other creditworthy large customers under long-term power purchase agreements with expiration dates ranging from 2021 to 2043.

Distribution channels1 record

Marketing channels2 records

Atlantic Power Corporation product offering

Product offering

Core offering

Atlantic Power Corporation is an independent power producer that owns and operates a diversified fleet of power generation assets across 11 U.S. states and 2 Canadian provinces. The company generates and sells electricity and steam from natural gas, hydroelectric, biomass, and a minority coal interest (40%) to investment-grade utilities and other creditworthy large customers under long-term power purchase agreements. Approximately 75% of projects are 100% owned and directly operated and maintained by the company.

Product overview

Atlantic Power Corporation is an independent power producer that operates a diversified portfolio of power generation assets in eleven U.S. states and two Canadian provinces. The company generates electricity and steam primarily through gas, hydro, and biomass facilities, selling output to investment-grade utilities under long-term power purchase agreements. Atlantic Power also holds a 40% interest in one coal project. The company was acquired by I Squared Capital in May 2021 and delisted from the TSX and NYSE. As a power generation company, Atlantic Power does not offer traditional software products or technology platforms.

Differentiator

Problem solved

Functional benefit

Products and services

  • Power Generation Assets

Companies that use Atlantic Power Corporation

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Atlantic Power Corporation technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Atlantic Power Corporation partnerships and signals

Strategic signal

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Atlantic Power Corporation competitors and assessment

Company assessment

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Atlantic Power Corporation financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Atlantic Power Corporation leadership team

Management profile

Number of profiles

Profiles2 records

Atlantic Power Corporation funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Atlantic Power Corporation M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Atlantic Power Corporation

What does Atlantic Power Corporation do?

Atlantic Power Corporation is an independent power producer that owns and operates a diversified fleet of power generation assets across 11 U.S. states and 2 Canadian provinces. The company generates and sells electricity and steam from natural gas, hydroelectric, biomass, and a minority coal interest (40%) to investment-grade utilities and other creditworthy large customers under long-term power purchase agreements. Approximately 75% of projects are 100% owned and directly operated and maintained by the company.

Is Atlantic Power Corporation a public or private company?

Atlantic Power Corporation is a public company. It is classified as private equity controlled and is currently acquired.

When was Atlantic Power Corporation founded?

Atlantic Power Corporation was founded in 2004. It employs 101 to 250 people.

Where is Atlantic Power Corporation based?

Atlantic Power Corporation is headquartered in Boston, United States, in the North America region.

How does Atlantic Power Corporation make money?

One revenue line is on record: electricity and Steam Sales.

Does Atlantic Power Corporation have an API?

No public API is recorded for Atlantic Power Corporation.

What industry is Atlantic Power Corporation in?

Atlantic Power Corporation's product category is Independent Power Generation. Its primary akta.pro industry code is EUACABAI, Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield), with a secondary code of FSAAAKAG, Renewable Energy Infrastructure. Its NAICS code is 22111 and its SIC code is 4911.

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Live signals
PR NewswireAtlantic Power Announces Closing of Transaction With I Squared CapitalAtlantic Power Corporation announced the closing of its previously announced transaction with affiliates of infrastructure funds managed by I Squared Capital, under which all common shares were acquired for US$3.03 per share in cash. The transaction also involved the acquisition of preferred shares at C$22.00 per share and the redemption of 5.95% medium term notes at 106.071% of principal plus accrued interest. Following the closing, Atlantic Power's securities will be delisted from the TSX and NYSE, and the company intends to cease being a reporting issuer in Canada and deregister under the U.S. Securities Exchange Act.PR NewswireAtlantic Power Announces Intention to Redeem Medium Term NotesAtlantic Power Corporation's subsidiary Atlantic Power Limited Partnership has exercised its right to mandatorily redeem C$210,000,000 of 5.95% medium term notes due June 2036, conditional on closing of a transaction involving infrastructure funds managed by I Squared Capital Advisors. The redemption price is set at 106.071% of principal plus accrued interest, with the parties targeting May 14, 2021 as the closing date. Approximately 89.9% of note holders approved the amendments through a consent solicitation process commenced in February 2021.PR NewswireAtlantic Power Corporation Releases First Quarter 2021 ResultsAtlantic Power Corporation reported a net loss of $0.1 million for Q1 2021, a decline from net income of $29.5 million in Q1 2020, primarily due to a foreign exchange loss and higher administrative expenses. Project Adjusted EBITDA decreased to $48.2 million from $50.8 million, with lower water flows at Curtis Palmer reducing generation by 41%. The company also confirmed its pending acquisition by I Squared Capital affiliates remains targeted to close on May 14, 2021, having received all required regulatory approvals.PR NewswireAtlantic Power Corporation Announces Date for Release of First Quarter 2021 ResultsAtlantic Power Corporation announced it will release its first quarter 2021 financial results after market close on May 6, 2021, and will not hold a conference call due to a pending acquisition of the company. The transaction, involving affiliates of infrastructure funds managed by I Squared Capital Advisors, is targeted to close on May 14, 2021. Atlantic Power is an independent power producer with generation assets across eleven U.S. states and two Canadian provinces.PR NewswireAtlantic Power Announces Cancellation of Convertible Debentureholder Meeting and Intention to Defease Convertible DebenturesAtlantic Power Corporation announced the cancellation of its convertible debentureholder meeting and mutual waiver of the debentureholder approval condition for the previously announced transaction with affiliates of infrastructure funds managed by I Squared Capital. The company is targeting May 14, 2021 as the closing date, at which point Atlantic Power intends to defease all outstanding 6.00% Series E convertible debentures and proceed with delisting from the TSX and NYSE while ceasing to be a reporting issuer.PR NewswireAtlantic Power Obtains Final Court Order Approving ArrangementAtlantic Power Corporation has obtained a final court order from the Supreme Court of British Columbia approving its previously announced arrangement with affiliates of infrastructure funds managed by I Squared Capital Advisors. The transaction, which has already received shareholder approval and regulatory clearances from Canadian and US authorities, remains subject to convertible debenture holder approval and other customary closing conditions, with closing expected in Q2 2021. This represents a significant milestone advancing the acquisition of the independent power producer.PR NewswireAtlantic Power Provides an Update on Convertible Debentureholder MeetingAtlantic Power Corporation announced that it is continuing to work towards closing a proposed transaction involving itself, Atlantic Power Preferred Equity Ltd. (APPEL), and certain affiliates of I Squared Capital Advisors without the approval of holders of its 6.00% Series E convertible debentures. The meeting of debentureholders set for April 15, 2021, has been adjourned to April 29, 2021, to allow more time for necessary approvals and voting. The transaction is subject to additional regulatory approvals and is expected to close in the second quarter of 2021.PR NewswireAtlantic Power Announces Common and Preferred Shareholder Approval of I Squared TransactionAtlantic Power Corporation announced that both common and preferred shareholders voted to approve the previously announced acquisition by I Squared Capital's affiliated infrastructure funds, with approximately 87% of common shareholders and 74% of preferred shareholders voting in favor. Common shares will be acquired for US$3.03 per share and preferred shares for C$22.00 per share, though holders of the Company's convertible debentures failed to approve the transaction with less than two-thirds support. The transaction has received regulatory approvals including from the Canadian Commissioner of Competition and FERC, with closing expected in Q2 2021.PR NewswireAtlantic Power Corporation Announces Authorization of I Squared Transaction by Federal Energy Regulatory CommissionAtlantic Power Corporation announced that the Federal Energy Regulatory Commission approved the proposed transaction with certain affiliates of infrastructure funds managed by I Squared Capital Advisors, under which Atlantic Power common shareholders will receive US$3.03 per share in cash. The transaction remains subject to approval by common shareholders, convertible debentureholders, preferred shareholders of subsidiary Atlantic Power Preferred Equity Ltd., and requires court approval along with other customary closing conditions. The arrangement represents a take-private transaction of the independent power producer, which owns generation assets across eleven U.S. states and two Canadian provinces.PR NewswireAtlantic Power Corporation Announces Expiration of HSR Waiting PeriodAtlantic Power Corporation announced on March 10, 2021, that the required Hart-Scott-Rodino Antitrust waiting period has expired in connection with its previously announced transaction with I Squared Capital, a private infrastructure investor. The expiration clears a key U.S. regulatory hurdle for I Squared Capital's acquisition of Atlantic Power's common shares, convertible debentures, and subsidiary securities for cash. The transaction remains subject to securityholder approval and other required regulatory approvals, with Atlantic Power having filed its definitive proxy statement on March 2, 2021.