11:37 AM EST - Atlantic Power Corp. : said it had signed a purchase and sale agreement to sell its 50% interest in its Mid-Georgia Project to Perennial Power Holdings, Inc. a wholly-owned, indirect subsidiary of Sumitomo Corporation for cash proceeds of approximately $29 million. Mid-Georgia is a 308 MW dual-fuel, combined-cycle cogeneration project located in Kathleen, Georgia. The closing of the sale is is anticipated to occur before the end of 2009. The project's other 50% owner has also agreed to sell its interest at the same time. The company expects to record a book gain on the sale of approximately $16 million and a tax gain of approximately $12 million. Atlantic Power Corp.
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