Dive Summary:
- Atlantic Power Corp. announced on Monday that it would sell its stake in the California Path 15 transmission project to Duke-American Transmission Co.
- The company expects to get about $56 million out of the deal, which comes as it emphasizes its focus on natural gas development.
- $137 million in project-level debt associated with the Path 15 project would transfer with the sale, which is expected to close in the second quarter of 2013.
From the article:
"... The project, called Path 15, is an 84-mile transmission line upgrade in California that was intended to alleviate north-to-south transmission congestion. Atlantic Power acquired a stake in the project in 2006. ..."
