Atlantic Power says Cadillac biomass plant offline following fire
Atlantic Power disclosed that its Cadillac biomass plant, located in Cadillac, Michigan, is currently offline following a fire at the plant on September 22. "The plant's sprinkler system activated and the fire was extinguished by the local fire department. The fire did not result in any injuries or known environmental violations. The cause of the fire, extent of the damage, and time required to repair the facility are unknown at this time. The Company is assessing the extent of the damage to the facility and will be reviewing the incident with its insurance carriers," the company said, adding that it expects to provide a further update with its third quarter 2019 financial results when it has determined the extent of the damage, the schedule for the plant's expected return to service and the financial impact. The company noted that Cadillac contributed $3.4M to Project Adjusted EBITDA in the first six months of 2019, or 3% of total Project Adjusted EBITDA.