Algonquin Power & Utilities Corp. Announces Termination of Lock-up Agreement

Oct 26, 2011, 09:26 ET from Algonquin Power & Utilities Corp.

OAKVILLE, ON, Oct. 26, 2011 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX : AQN) announced today that it is no longer interested in pursuing discussions with, or conducting due diligence regarding, Western Wind Energy Corp. ("Western Wind") in relation to any possible transaction involving APUC and Western Wind.  Accordingly, the lock-up agreement APUC previously entered into with a significant shareholder of Western Wind has been terminated.

About Algonquin Power & Utilities Corp.

Through its distinct operating subsidiaries, APUC owns and operates a diversified portfolio of $1.1 billion of clean renewable electric generation and sustainable utility distribution businesses in North America. Liberty Utilities Co., APUC's regulated distribution utility business, provides regulated water and electric utility services to more than 120,000 customers with a portfolio of 21 water and electric utility systems. Pursuant to previously announced agreements, Liberty Utilities Co. is committed to acquiring Granite State Electric Company, a New Hampshire electric distribution company, EnergyNorth Natural Gas Inc., a regulated natural gas distribution utility and certain regulated natural gas distribution assets in Missouri, Illinois and Iowa, which together serve approximately 213,000 customers. Algonquin Power Co. (APCo), APUC's electric generation subsidiary, includes 45 renewable energy facilities and 12 thermal energy facilities representing more than 460 MW of installed capacity. Pursuant to a previously announced agreement APCo will be acquiring a partial interest in an existing 370MW portfolio of New England and New York wind projects and development opportunities representing an additional 1,200MW of wind generation projects. APUC and its operating subsidiaries deliver continuing growth through an expanding pipeline of greenfield and expansion renewable power and clean energy projects, organic growth within its regulated utilities and the pursuit of accretive acquisition opportunities. APUC's common shares and convertible debentures are traded on the Toronto Stock Exchange under the symbols AQN, AQN.DB.A and AQN.DB.B. Visit Algonquin Power & Utilities Corp. at www.AlgonquinPowerandUtilities.com.

SOURCE Algonquin Power & Utilities Corp.