Cohocton Wind Watch: Algonquin Power & Utilities Corp. Announces Withdrawal from Minority Interest Wind Investment
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


READ about the FIRST WIND Connection to the Obama Administration

Industrial Wind and the Wall Street Cap and Trade Fraud




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Saturday, January 28, 2012

Algonquin Power & Utilities Corp. Announces Withdrawal from Minority Interest Wind Investment

Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) today announced that it plans not to proceed with the previously announced investment in First Wind Holdings, LLC's ("First Wind") wind portfolio in the North East United States ("Portfolio"). The initial joint announcement with Emera Inc. ("Emera") (TSX:EMA) in April 2011 had contemplated APUC acquiring a minority interest of approximately 12.5% in the Portfolio, representing an approximate U.S. $83 million investment.

"Although First Wind is a developer of high quality wind projects, the longer than anticipated regulatory process in Maine, together with the transactions we have announced since April 2011 have contributed to our decision not to proceed with the First Wind investment", commented Ian Robertson, Chief Executive Officer of APUC. "Notwithstanding this decision, we remain solidly focused on gaining regulatory approval in Maine for the advancement of our Strategic Investment Agreement with Emera."

"Our Strategic Investment Agreement with Algonquin creates an excellent relationship, and together we believe we can capitalize on many investment opportunities we see in front of us", said Chris Huskilson, CEO, Emera Inc. "Consistent with Emera's significant electrical utility presence in Maine, Emera remains fully committed to the First Wind transaction, as we believe this proposed investment will create benefits for citizens and customers of that State."

Robertson continued, "We have a large pipeline of exceptional acquisition and development opportunities and believe that our efforts should be focused on those investments where we can more directly contribute to their success. Our Strategic Investment Agreement with Emera remains strong and intact and we look forward to a continuing mutually beneficial relationship well into the future."

About Algonquin Power & Utilities Corp.

Through its distinct operating subsidiaries, APUC owns and operates a diversified portfolio of $1.2 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 22 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. 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.

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Click on link to submit your SEC complaint on the
First Wind Holdings Inc. IPO public offering


TEN Reasons
Why the SEC should not allow First Wind to be listed on NASDAQ

First Wind Holdings Inc. 12/22/09 SEC S1/A IPO Filing

First Wind Holdings Inc. 7/31/08 SEC S1 IPO Filing

May 14, 2010 addition to the First Wind Holdings Inc. SEC S1A IPO Filing

August 18, 2010 amendment 7 to the First Wind Holdings Inc. SEC S1A IPO Filing

October 13, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing

New October 25, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing


FIRST WIND Lays an Egg WITHDRAWS IPO
after Wall Street no confidence in company




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