AT - Atlantic Power gets Calstock PPA extension Cadillac insurance settlement

Atlantic Power (AT) +2.9% post-market after announcing a one-year extension of the power purchase agreement for its Calstock biomass plant in Ontario and a final settlement of the insurance claim for its Cadillac plant.The company says the PPA extension, which takes effect on Dec. 17, will not change its FY 2020 project adjusted EBITDA guidance of $175M-$190M.Atlantic Power also says it executed a final settlement of its insurance claim for the Cadillac plant, and will receive $10.1M in final payments from the insurers.Atlantic Power has lagged peers due to its "inferior assets and its low average PPA duration" of six years, Ploutos Investing wrote in an analysis published this past summer on Seeking Alpha.

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Atlantic Power gets Calstock PPA extension, Cadillac insurance settlement