2011

January 27 - 2012 - Algonquin Power & Utilities Corp. Announces Withdrawal from Minority Interest Wind Investment

January 25 - 2012 - Algonquin Power & Utilities Corp. announces dates for 2011 fourth quarter and year-end financial results release and conference call

January 20 - 2012 - Algonquin Power & Utilities Corp. Announces Redemption of Series 2A 6.35% Convertible Debentures

January 19 - 2012 - Algonquin Power & Utilities Corp. Announces $80 Million Credit Facility for Liberty Utilities Co.

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

OAKVILLE, Ontario - January 27th, 2012 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.

About Emera
Emera Inc. is a growing energy and services company with $6.8 billion in assets and 2010 revenues of $1.6 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera operates throughout northeastern North America, in three Caribbean countries and in California. More than 80% of the company's earnings come from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA and EMA.PR.A. Additional information can be accessed at: www.emera.com, www.sedar.com, or on www.sec.gov.

Caution Regarding Forward-Looking Information
Certain statements included in this news release contain information that is forward-looking within the meaning of certain securities laws, including information and statements regarding prospective results of operations, financial position or cash flows. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. APUC cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors include those set out in the management's discussion and analysis section of APUC's most recent annual report and quarterly report, and APUC's Annual Information Form. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, APUC undertakes no obligation to update any forward-looking statements or information to reflect new information, subsequent or otherwise.

Top of Page

Algonquin Power & Utilities Corp. announces dates for 2011 fourth quarter and year-end financial results release and conference call

OAKVILLE, Ontario - January 25th, 2012 Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) today announced plans to release 2011 fourth quarter and year-end financial results the afternoon of Thursday, March 8, 2012. APUC will hold an earnings conference call at 10:00 a.m. eastern time on Friday, March 9, 2012, hosted by Chief Executive Officer Ian Robertson and Chief Financial Officer David Bronicheski.

Conference call details are as follows:
Date: Friday, March 9, 2012
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-814-4859 or Local 416-644-3414.
Conference ID#: 4507938
For those unable to attend the live call, a digital recording will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 4507938# from March 9, 2012 until March 23, 2012.

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.

Top of Page

Algonquin Power & Utilities Corp. Announces Redemption of Series 2A 6.35% Convertible Debentures

OAKVILLE, Ontario - January 20th, 2012 Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN), today announced that it has provided the holders of its Series 2A 6.35% convertible unsecured subordinated debentures due November 30, 2016 ("Debentures") (TSX:AQN.DB.A) notice of its intention to redeem for equity, effective February 24, 2011 ("Redemption Date"), all of the issued and outstanding Debentures.

"With APUC's current lower cost of capital, redeeming these relatively high cost Debentures for equity represents an accretive transaction for APUC on both an earnings per share and cash flow per share basis.", stated David Bronicheski, Chief Financial Officer of APUC. "This redemption further strengthens our investment grade balance sheet and continues to lower our cost of capital."

The redemption will be effected in accordance with the terms and definitions of the trust indenture governing the Debentures. APUC will satisfy its obligation to pay holders of Debentures ("Debentureholders") by issuing and delivering the number of freely tradeable APUC shares obtained by dividing the aggregate principal amount of Debentures, currently $59,957,000.00, by 95% of the current market price (as defined in the trust indenture governing the Debentures) of APUC shares on the Redemption Date. Unpaid accrued interest on the Debentures will be paid in cash at the time of redemption.

Debentureholders who are not directly the registered holder of the Debentures should contact the financial institution, broker or other intermediary through which they hold their Debentures to discuss the receipt of their redemption proceeds.

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.

Top of Page

Algonquin Power & Utilities Corp. Announces $80 Million Credit Facility for Liberty Utilities Co.

OAKVILLE, Ontario - January 19th, 2012 Algonquin Power & Utilities Corp. ("APUC") (TSX: AQN) today announced that it has entered into an agreement for a U.S. $80 million senior unsecured revolving credit facility ("Facility") with a three year term for Liberty Utilities Co. ("Liberty Utilities"), APUC's regulated distribution utility business.

Initially, U.S. $25 million will be available immediately to support the operations of Liberty Utilities and its current subsidiaries. The additional U.S. $55 million will be automatically available to Liberty Utilities to support operations of all committed regulated utility acquisitions following the closing of the previously announced acquisition of the electricity distribution utility, Granite State Electric Company, and the natural gas distribution utility, EnergyNorth Natural Gas Inc. The lead arranger and sole bookrunner for the Facility is J.P. Morgan Securities LLC.

"The Liberty Utilities credit facility forms an integral part of our capital structure going forward", commented David Bronicheski, Chief Financial Officer. "The Facility provides Liberty Utilities with the liquidity and financial flexibility that is needed as we continue to expand our utilities business into New Hampshire, Iowa, Illinois and Missouri, and in the future in other new markets within North America."

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.

Caution Regarding Forward-Looking Information
Certain statements included in this news release contain information that is forward-looking within the meaning of certain securities laws, including information and statements regarding prospective results of operations, financial position or cash flows. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. APUC cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors include those set out in the management's discussion and analysis section of APUC's most recent annual report and quarterly report, and APUC's Annual Information Form. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, APUC undertakes no obligation to update any forward-looking statements or information to reflect new information, subsequent or otherwise.

Top of Page