The purchase price was $77m, plus customary working capital adjustments, and was funded by $34m of cash on hand and $43m of assumed non-recourse, project-level debt.

The assumed non-recourse debt amortizes fully over the term of the power purchase agreement.

Operations and maintenance of the facility will be managed by Rollcast Energy, Atlantic Power’s majority-owned affiliate.

The company expects to receive distributions from the project in the range of $3.5m to $4.5m per year, starting in 2011.

Atlantic Power is an energy producer with projects located in major markets in the US.