Atlantic Power, a leading power generation and infrastructure company, recently announced an agreement for the sale of its Manchief plant. The sale of the plant is part of the company`s ongoing efforts to optimize its portfolio and focus on its core business.

The Manchief plant is a 50-megawatt biomass facility located in Atoka, Oklahoma. The facility has been in operation since 1982, generating renewable energy from wood waste and other biomass materials. Under the terms of the agreement, Atlantic Power will sell the plant to an affiliate of Ares Management Corporation for a total consideration of $56.9 million.

The sale of the Manchief plant is in line with Atlantic Power`s strategy to divest non-core assets and optimize its portfolio. The company has been focused on reducing its debt and improving its financial position, and the sale of the Manchief plant is expected to provide a significant boost to its liquidity.

In addition to the sale of the Manchief plant, Atlantic Power has also been actively pursuing other strategic initiatives to improve its business. The company has been exploring opportunities to expand its presence in the renewable energy sector, and is evaluating potential acquisitions and partnerships in this area.

Overall, the sale of the Manchief plant is an important step for Atlantic Power as it looks to position itself for long-term success. By focusing on its core business and optimizing its portfolio, the company is well-positioned to capitalize on growth opportunities in the power generation and infrastructure markets. With a strong balance sheet and a strategic vision for the future, Atlantic Power is a company to watch in the years ahead.