UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
report (Date of earliest event reported):
November 11, 2011
ATLANTIC
POWER CORPORATION
(Exact
name of registrant as specified in its charter)
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British
Columbia, Canada
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55-0886410
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(State or
other jurisdiction of
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(I.R.S.
Employer
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incorporation
or organization)
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Identification
No.)
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200
Clarendon Street, Floor 25
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Boston,
MA
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02116
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(Address
of principal executive offices)
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(Zip
code)
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(617) 977-2400
(Registrant’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item
2.02.
Results
of Operations and Financial Condition.
On
November 11, 2011, Atlantic Power Corporation (the
“Company”) issued a press release reporting its
operating results and other information for the three and nine
months ended September 30, 2011. A copy of the
Company’s press release is attached as Exhibit 99.1 hereto
and is incorporated by reference.
The
information in this Item 2.02, including Exhibit 99.1, is
being furnished and shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of
1934 (the “Exchange Act”) or otherwise subject to the
liability of that Section, nor shall such information be deemed to
be incorporated by reference into any registration statement or
other document filed under the Securities Act of 1933 or the
Exchange Act, except as otherwise stated in that filing.
Item
9.01.
Financial
Statements and Exhibits
(d)
Exhibits
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Exhibit
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Number
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Description
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99.1
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Press
Release of Atlantic Power Corporation, dated November 11,
2011.
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2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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Atlantic
Power Corporation
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Dated:
November 11, 2011
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By:
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/s/ Barry
E. Welch
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Name:
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Barry E.
Welch
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Title:
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President
and Chief Executive Officer
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3
EXHIBIT INDEX
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Exhibit
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Number
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Description
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99.1
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Press
Release of Atlantic Power Corporation, dated November 11,
2011.
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4
Exhibit
99.1
Atlantic
Power Corporation Releases Third Quarter 2011
Results
BOSTON,
MASSACHUSETTS — November 11, 2011 /PRNewswire/ —
Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic
Power” or the “Company”) today announced its
results for the three and nine months ended September 30,
2011. All amounts are in U.S. dollars unless otherwise
indicated. Please see “Regulation G Disclosures”
attached to this news release for an explanation and US GAAP
reconciliation of the terms “EBITDA,” “Project
Adjusted EBITDA” and “Cash Available for
Distribution” as used in this news release.
Highlights
·
Closed
acquisition of Capital Power Income L.P. (“CPILP”) on
November 5, 2011
·
Financial
results in line with expectations
·
Maintaining
2011 project cash flow and payout ratio guidance
“We
are pleased that the results for the quarter met our expectations
and are in line with our guidance for the year,” commented
Barry Welch, President and CEO. “With the successful
close of the CPILP acquisition behind us, we are focusing on the
critical task of fully integrating CPILP’s people and assets
into our organization. First and foremost, we are dedicated
to finding a permanent CFO to join our management team. We
have met with several great candidates, and hope to have an
announcement on that front soon.”
Operating
Performance
Project
Adjusted EBITDA, including earnings from equity investments,
decreased by $0.5 million to $41.0 million for the
quarter ended September 30, 2011 compared to
$41.5 million for the same period last year. The primary
drivers behind the decrease were:
·
decreased
earnings at Chambers due to an increase in operations and
maintenance costs in connection with a forced outage in
July 2011;
·
decreased
earnings at Lake attributable to the plant running favorable
off-peak dispatch during the third quarter of 2010; and
·
decreased
earnings at Badger Creek due to lower capacity payments under the
new one year interim power purchase agreement beginning in
April 2011.
These
decreases were partially offset by:
·
contributions
from the Cadillac Renewable facility, which was acquired in
December 2010; and
·
contributions
from Idaho Wind, which became operational in the first quarter of
2011.
Project
Adjusted EBITDA, including earnings from equity investments,
increased by $1.0 million to $119.8 million for the nine
months ended September 30, 2011 compared to
$118.8 million for the same period last year. The
increase in EBITDA was attributable to the following
factors:
·
contributions
from the Cadillac Renewable facility, which was acquired in
December 2010; and
·
contributions
from Idaho Wind,