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<SEC-DOCUMENT>0001047469-10-008144.txt : 20101217
<SEC-HEADER>0001047469-10-008144.hdr.sgml : 20101217
<ACCEPTANCE-DATETIME>20100917164930
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001047469-10-008144
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20100917

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC POWER CORP
		CENTRAL INDEX KEY:			0001419242
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC, GAS & SANITARY SERVICES [4900]
		IRS NUMBER:				550886410
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		FLOOR 25
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-977-2701

	MAIL ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		FLOOR 25
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
</SEC-HEADER>
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<TD style="font-family:times;"><FONT SIZE=2>[GOODWIN PROCTER LETTERHEAD]</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1> Yoel Kranz<BR>
617.570.1760<BR>
ykranz@goodwinprocter.com</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>Goodwin Procter </FONT><FONT SIZE=1>LLP</FONT><FONT SIZE=1><BR>
Counselors at Law<BR>
Exchange Place<BR>
Boston, MA 02109<BR>
T: 617.570.1000<BR>
F: 617.523.1231<BR></FONT>
</TD>
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 </DIV>
 <P style="font-family:times;"><FONT SIZE=2>September&nbsp;17,
2010 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><I> VIA EDGAR AND FACSIMILE TRANSMISSION (202.772.9361)  </I></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>U.S.
Securities and Exchange Commission<BR>
100&nbsp;F. Street, N.E.<BR>
Washington, DC 20549<BR>
Attn: Scott Anderegg </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2><B>Re:</B></FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Atlantic Power Corporation<BR>
Registration Statement on Form&nbsp;S-l<BR>
Filed August&nbsp;16, 2010<BR>
Amendment No.&nbsp;1 to Registration Statement on Form&nbsp;S-l<BR>
Filed August&nbsp;20, 2010<BR>
File No.&nbsp;333-168855<BR>
Registration Statement on Form&nbsp;S-l<BR>
Filed August&nbsp;16, 2010<BR>
Amendment No.&nbsp;1 to Registration Statement on Form&nbsp;S-l<BR>
Filed August&nbsp;20, 2010<BR>
File No.&nbsp;333-168856</B></FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>Ladies
and Gentlemen: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
letter is submitted on behalf of Atlantic Power Corporation (the "</FONT><FONT SIZE=2><I>Company</I></FONT><FONT SIZE=2>") in response to comments received on September&nbsp;13,
2010 from the Division of Corporate Finance (the "</FONT><FONT SIZE=2><I>Staff</I></FONT><FONT SIZE=2>") of the Securities and Exchange Commission (the
"</FONT><FONT SIZE=2><I>Commission</I></FONT><FONT SIZE=2>") with respect to the Company's registration statement on Form&nbsp;S-1 (File No.&nbsp;333-168855) (the
"</FONT><FONT SIZE=2><I>Equity Registration Statement</I></FONT><FONT SIZE=2>") and registration statement on Form&nbsp;S-1 (File No.&nbsp;333-168856) (the
"</FONT><FONT SIZE=2><I>Debenture Registration Statement</I></FONT><FONT SIZE=2>" and together with the Equity Registration Statement, the "</FONT><FONT SIZE=2><I>Registration
Statements</I></FONT><FONT SIZE=2>"), each as filed with the Commission on August&nbsp;16, 2010, as well as Amendment No.&nbsp;1 to each Registration Statement as filed with the Commission on
August&nbsp;20, 2010. The Company is concurrently filing an Amendment No.&nbsp;2 to the Equity Registration Statement and the Debenture Registration Statement (the "</FONT><FONT SIZE=2><I>Equity
Amendment No.&nbsp;2</I></FONT><FONT SIZE=2>" and the "</FONT><FONT SIZE=2><I>Debenture Amendment No.&nbsp;2</I></FONT><FONT SIZE=2>," respectively, and collectively, the
"</FONT><FONT SIZE=2><I>Amendments No.&nbsp;2</I></FONT><FONT SIZE=2>"), which includes changes to reflect responses to the Staff's comments. The Company will separately deliver to you copies of
Amendments No.&nbsp;2, marked to show changes from the Registration Statements. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, set forth below are the Company's responses to your comment letter. For your convenience, we have reproduced herein each of your numbered comments in bold font before the
Company's response thereto. Unless otherwise indicated, page references in the descriptions of the Staff's comments refer to the Registration Statements, and page references in the responses refer to
Amendments No.&nbsp;2. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I> Registration Statement on Form&nbsp;S-l, File No.&nbsp;333-168855  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please tell us your consideration of disclosing pro forma information reflecting the separate impacts of a)&nbsp;the use of common
stock offering proceeds to repay debt; and b)&nbsp;the new convertible debt financing. Refer to Article&nbsp;11 of Regulation&nbsp;S-X.</B></FONT></DD></DL>
<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_kx17905_1_2"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
Rule&nbsp;11-01 of Regulation&nbsp;S-X requires the disclosure of pro forma financial information in specified instances, including certain business combinations,
significant acquisitions and dispositions of assets, rollups, spinoffs and "other events or transactions . . . for which disclosure of pro forma financial information would be material to investors."
We do not believe that any of these are applicable to the Company. While proceeds from the offerings will be used to fund (or repay indebtedness that was incurred to fund) an investment in two power
projects, the two transactions are unrelated and do not, individually or in the aggregate, rise to the level of significance contemplated by Rule&nbsp;11-01. Moreover, both of the
relevant projects are in development and are not expected to begin operations until 2011 and 2012. Likewise, while a portion of the proceeds from the offerings are intended to be used to repay amounts
drawn under the Company's revolving credit facility, this will be a relatively small amount ($20&nbsp;million) in the context of the Company's capitalization and results. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>We
also note that the disclosure included under "Capitalization" on page&nbsp;32 of the Equity Amendment No.&nbsp;2 and page&nbsp;36 of the Debenture Amendment No.&nbsp;2 sets forth on a pro
forma (or "as adjusted") basis the Company's capitalization after giving effect to (i)&nbsp;the receipt of net proceeds in the offerings, (ii)&nbsp;repayment of amounts outstanding under the
credit facility and (iii)&nbsp;the incurrence of new convertible debt pursuant to the concurrent offering of debentures. We thus determined that further pro forma financial information would not be
of material use to investors. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Prospectus Cover Page  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please remove the phrase "Sole Book-Running Manager" from the cover of your prospectus.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have removed this phrase from the cover of the prospectus in the Equity Amendment No.&nbsp;2.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note that you have not provided your pricing information. We may have additional comments when you provide this
information.</B></FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response:
We note the Staff's comment. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I> Table of Contents, page&nbsp;i  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please amend the last sentence of the penultimate paragraph to note that the information will always be materially accurate at the
time the prospectus is delivered or the securities sold, or delete it.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comments, we have deleted the last two sentences of the penultimate paragraph on page&nbsp;i of both Amendments No.&nbsp;2. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Prospectus Summary, page&nbsp;1  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please revise your prospectus to avoid using parenthetical definitions that use abbreviations for terms; such as "PPAs", "TSRs" and
"EWGs." Where there is a risk of misunderstanding, the term should be clarified in context.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have significantly reduced the use of abbreviations for terms in Amendments No.&nbsp;2. We note that there are certain abbreviations that are so
widely used in the industry as to be well understood by the investing community at first glance (such as "MW", "PPA" and "FERC") and we have accordingly retained use of such abbreviations. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_kx17905_1_3"> </A>

<P style="font-family:times;"><FONT SIZE=2><B><I> Our Competitive Strengths, page&nbsp;2  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>6.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>If you choose to highlight your company's strengths in the summary, please balance that disclosure with a discussion of the principal
challenges or risks facing the company. Please also ensure that this disclosure represents a summary of your strengths, as the disclosure appears to be identical to the disclosure that appears on
pages&nbsp;72-73.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment we have revised our disclosure of "Competitive Strengths" on page&nbsp;2 of both Amendments No.&nbsp;2. We have also added a summary discussion of the
principal challenges and risks facing the Company on page&nbsp;6 of both Amendments No.&nbsp;2. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Summary Historical Financial Information, page&nbsp;9  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>7.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>It appears there may be a computational or typographical error in the Cdn$ diluted earnings per share amounts for the year ended
December&nbsp;31, 2008 that are shown here and on page&nbsp;32 since diluted earnings per share cannot be greater than basic earnings per share. Please revise your presentation to address this
issue. Please also revise to provide a footnote to the tables reconciling how diluted earnings per share in US$ and Cdn$ were computed. Refer also to the similar comment included below regarding the
diluted income per share amount shown on your quarterly statements of operations for the three months ended June&nbsp;30, 2010 on page&nbsp;F-40.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
We have recalculated our diluted earnings per share amounts and these revised numbers are included on pages&nbsp;9 and 33 of the Equity Amendment No.&nbsp;2 and pages&nbsp;10 and 37 of
the Debenture Amendment No.&nbsp;2. In response to the Staff's comment, we have also added footnotes to the tables on pages&nbsp;9 and 33 of the Equity Amendment No.&nbsp;2 and pages&nbsp;10
and 37 of the Debenture Amendment No.&nbsp;2 reconciling how diluted earnings per share in US$ and Cdn$ were computed. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Risk Factors, page&nbsp;10  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>8.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We refer you to your risk factor entitled "Financing arrangements could negatively impact [y]our business."
In light of the concurrent debt offering, please revise this risk factor to quantify the amount of debt you have outstanding that is discussed in this risk factor, with a view to providing investors
with additional information as to why such arrangements could negatively impact your business.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure on page&nbsp;17 of the Equity Amendment No.&nbsp;2 and page&nbsp;18 of the Debenture Amendment No.&nbsp;2 to
quantify the amount of debt outstanding. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Cautionary Statement Regarding Forward-Looking Statements, page&nbsp;24  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>9.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note your reference to the Private Securities Litigation Reform Act. Section&nbsp;27A(b)(2)(D) of the Securities Act of 1933 and
Section&nbsp;21E(b)(2)(D) of the Securities Exchange Act of 1934 expressly states that the safe harbor for forward looking statements does not apply to statements made with respect to the business
or operation of an issuer if the offering is the issuer's initial public offering. Please delete references to the Litigation Reform Act. Please remove this language.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have deleted references to the Litigation Reform Act on page&nbsp;24 of the Equity Amendment No.&nbsp;2 and page&nbsp;28 of the Debenture
Amendment No.&nbsp;2. Please note that this should not be deemed a concession by the Company that the safe harbor for forward looking statements is not applicable. </FONT></P>

</UL>


<P style="font-family:times;"><FONT SIZE=2><B><I> Use of Proceeds, page&nbsp;27  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>10.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Disclose how you will prioritize your use of proceeds if the concurrent offering of convertible debentures is not successfully
completed.</B></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_kx17905_1_4"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure on page&nbsp;27 of the Equity Amendment No.&nbsp;2 and page&nbsp;31 of the Debenture Amendment No.&nbsp;2 to
disclose how we intend to prioritize our use of proceeds if either of the concurrent offerings is not successfully completed. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Management's Discussion and Analysis of Financial Condition and Results of Operations, page&nbsp;33  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I> Recent Accounting Pronouncements, page&nbsp;64  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>11.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please update your disclosures regarding the consolidation guidance applied to variable interest entities and the amendments to the
fair value measurements and disclosures topic of the codification to reflect that you adopted these pronouncements in fiscal 2010.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have updated our disclosure in on page&nbsp;65 of the Equity Amendment No.&nbsp;2 and page&nbsp;68 of the Debenture Amendment No.&nbsp;2 to
reflect the adoption of the relevant pronouncements in fiscal 2010. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Where you can find more information, page&nbsp;136  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>12.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Your last sentence in this section indication that you have filed a separate registration statement to register the offer and sale
of common shares. We presume that you mean to refer to the offering of debt here.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
We have corrected this typographical error on page&nbsp;142 of the Equity Amendment No.&nbsp;2. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Financial Statements, page&nbsp;F-l  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>13.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please prominently mark all unaudited financial statements of equity method investees as unaudited. To the extent unaudited periods
are presented alongside audited periods, please be sure to label the respective columns and footnote amounts accordingly.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
Please note that only audited financial statements have separately been provided in the Registration Statements for equity method investees. However, in accordance with
Rule&nbsp;3-09 of Regulation&nbsp;S-X, the report of independent accountants is
provided only for those fiscal years in which either the first or third condition set forth in Rule&nbsp;1-02(w) (substituting 20&nbsp;percent for 10&nbsp;percent) is met. Each of
the separately provided financial statements in the Registration Statements is prefaced by a statement as to which reports of the independent accountants are included. For example, the combined
financial statements of Gregory Partners,&nbsp;LLC and Gregory Power Partners,&nbsp;L.P. for the years ended December 2008 and 2007 state that they are presented without the related report of
independent accountants for the year ended December&nbsp;31, 2008 and that the report of independent accountants is presented for the year ended December&nbsp;31, 2007 pursuant to the requirements
of Rule&nbsp;3-09 of Regulation&nbsp;S-X (please see page&nbsp;F-171 of both Amendments No.&nbsp;2). </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Atlantic Power Corp. Quarterly Financial Statements, page&nbsp;F-39  </I></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I> Consolidated Statements of Operations, page&nbsp;F-40  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>14.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Similar to the comment above on Summary Historical Financial Information, it appears there may be a computational or typographical
error in the diluted income per share amount that is shown for the three months ended June&nbsp;30, 2010, since diluted income per share cannot be greater than basic income per share. Please revise
your presentation to address this issue. Please also revise your footnote disclosures regarding earnings per share to include a reconciliation of both the numerators and denominators of the basic and
diluted per-share computations. In this regard, we assume the dilutive effect of the assumed conversion of convertible debentures impacts both the numerator and denominator of the
per-share computations. Refer to ASC 260.</B></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_kx17905_1_5"> </A>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
We have recalculated our diluted earnings per share amounts and these numbers are included on page&nbsp;F-40 of both Amendments No.&nbsp;2. In our revised calculation, we
excluded interest expense attributable to the convertible debentures from the calculation of our diluted earnings per share, as the effect to the diluted earnings per share was antidilutive. Please
note that
footnote 11 to our quarterly unaudited financial statements on page&nbsp;F-58 of both Amendments No.&nbsp;2 describes the methodology we use to calculate US$ basic and diluted earnings
per share and provides tabular disclosure that reconciles basic and diluted shares outstanding. We calculate Cdn$ basic and diluted earnings per share by converting the US$ using the average
applicable exchange rates. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Notes to Consolidated Financial Statements, page&nbsp;F-42  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>15.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please explain why you have not provided summarized income statement information for each unconsolidated subsidiary or group of
unconsolidated subsidiaries for which separate or group statements are otherwise required for annual periods. Refer to Rule&nbsp;10-01(b)(l) of
Regulation&nbsp;S-X.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
We have not provided summarized income statement information for each unconsolidated subsidiary as of the six month periods ended June&nbsp;30, 2010 and 2009, respectively, as no separate
or group statements were required for the annual period ended December&nbsp;31, 2009. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Note&nbsp;9. Income Taxes, page&nbsp;F-55  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>16.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please refer to ASC 740-270-50-1 and disclose with more specificity the reasons for significant
variations in your effective tax rate between periods. Your disclosure that the difference between the effective and statutory rate for the periods presented is primarily due to an increase in the
valuation allowance and various other permanent differences seems to warrant further elaboration given that the increase in the valuation allowance appears to make up only a small part of the total
differences between the effective and statutory rates. We believe comparative analysis of income tax expense (benefit) and the effective tax rate for the periods presented should also be provided in
Management's Discussion and Analysis of Financial Condition and Results of Operations.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure on page&nbsp;F-55 of both Amendments No.&nbsp;2 to include a detailed explanation for the difference
between the effective and statutory rate for the six months ended June&nbsp;30, 2010. We have also added similar disclosure to Management's Discussion and Analysis of Financial Condition and Results
of Operations on page&nbsp;42 of the Equity Amendment No.&nbsp;2 and page&nbsp;45 of the Debenture Amendment No.&nbsp;2.  </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B> Item&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;Undertakings, page&nbsp;II-4  </B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>17.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Notwithstanding the Fact that your offering is not a delayed or continuous one, you are still required to provide the undertakings
located at Item&nbsp;512(a)(6) of Regulation&nbsp;S-K because this offering constitutes an initial distribution of securities. Please revise.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised "Undertakings" on page&nbsp;II-5 of the Equity Amendment No.&nbsp;2 and page&nbsp;II-4 of the Debenture
Amendment No.&nbsp;2 to include the undertakings located at Item&nbsp;512(a)(6) of Regulation&nbsp;S-K. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Exhibit&nbsp;5.1  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>18.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note the disclosure in counsel's legal opinion that counsel disclaims any obligation "to advise you of any change after the date
hereof in or affecting any matter set forth [t]herein." Please have counsel revise the opinion to state that they have no obligation to update the opinion as of the date of
effectiveness, or have counsel re-file the opinion on the date of effectiveness. This comment also applies to Exhibit&nbsp;5.1, to the registration statement on
Form&nbsp;S-l, file no.&nbsp;333-168856.</B></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5</FONT></P>

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<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
We advise the Staff that counsel will re-file the opinion on the date of effectiveness of the Registration Statements.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>19.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note that the legal opinion indicates that it relates only to the province of Ontario and the federal laws of Canada. Counsel
must opine under the laws of the jurisdiction of incorporation or organization of the registrant or, in this case, British Columbia. Please provide an opinion of counsel that renders an opinion under
British Columbia law. Note that we will accept an opinion of counsel that is rendered for a jurisdiction in which counsel is not admitted to practice as long as the opinion is not otherwise qualified
as to jurisdiction. This comment also applies to Exhibit&nbsp;5.1 to the registration statement on Form&nbsp;S-l, file no.&nbsp;333-168856 with respect to the shares of
common stock that are covered by the registration statement.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, the revised opinions filed as Exhibits&nbsp;5.1 to Amendments No.&nbsp;2 contain opinions rendered under the laws of British Columbia. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Registration Statement on Form&nbsp;S-l, File No.&nbsp;333-168856  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>20.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please address the applicable comments above in this filing.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
As noted in our responses above, we have made all applicable changes and revisions in both Amendments No.&nbsp;2.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>21.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please file the first supplemental indenture in the registration statement before effectiveness.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
The form of first supplemental indenture has been filed as Exhibit&nbsp;4.5 to the Debenture Amendment No.&nbsp;2.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>22.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Material terms of the debentures have not been provided. We may have additional comments when you provide this
information.</B></FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Response:
We note the Staff's comment. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B><I> Prospectus Cover Page  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>23.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please disclose the current amount of debt that ranks equal with our senior to the debentures and, if true, that you expect to incur
additional debt in the future. Please make a similar disclosure in your prospectus summary under the subtitle "The Debentures" on page&nbsp;6.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have included the requested disclosure in the Debenture Amendment No.&nbsp;2 on the prospectus cover page and in the prospectus summary on
page&nbsp;8. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Ratio of Earnings to Fixed Charges, page&nbsp;30  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>24.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>Please revise your disclosure to clarify how income or loss from equity investees and distributed income of equity investees are
considered in the calculation of earnings in the numerator of the earnings to fixed charges ratios. Refer to Item&nbsp;503(d) of Regulation&nbsp;S-K.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure accordingly on page&nbsp;32 of the Debenture Amendment No.&nbsp;2. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Description of Debentures, page&nbsp;123  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>25.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note that in connection with your ability to deliver common shares to satisfy your obligation to repay principal under the
debentures and in connection with the make whole premium upon a change of control you reference that such actions are subject to regulatory approval. In each case please explain the necessary
regulatory approval.</B></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>6</FONT></P>

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<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure on pages&nbsp;128 and 131 of the Debenture Amendment No.&nbsp;2 to summarize the necessary regulatory approval. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2><B><I> Conversion Privilege, page&nbsp;124  </I></B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>26.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><B>We note your risk factor on page&nbsp;23, "The Debentures may become convertible into other securities, cash or property following
certain transactions." We note in your description here of the events that would trigger a conversion and those that would require an adjustment of the conversion rights. Please describe in greater
detail how the debentures would be converted into property or other securities.</B></FONT></DD></DL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>Response:
In response to the Staff's comment, we have revised our disclosure on page&nbsp;127 of Debenture Amendment No.&nbsp;2 to describe in more detail how the debentures would be converted
into property or other securities. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*
</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are forwarding a courtesy package to you. The courtesy package includes this letter and marked and unmarked copies of the Amendments No.&nbsp;2. The marked copies show changes from
the Amendments No.&nbsp;1 to each of the Registration Statements filed with the Commission on August&nbsp;20, 2010. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
note that the Company acknowledges, and has authorized us to include in this letter, the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>Notwithstanding
your comments, in the event the Company requests acceleration of the effective date of the pending registration statements, it will furnish a written statement from the Company
acknowledging that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not
foreclose the Commission from taking any action with respect to the filing;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the action of the Commission or the staff, acting pursuant to delegated authority, in declaring the filing effective, does
not relieve the Company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>the Company may not assert staff comments and declaration of effectiveness as a defense in any proceeding initiated by the
Commission or any person under the federal securities laws of the United States. </FONT></DD></DL>
</UL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you have any further questions concerning the Amendments No.&nbsp;2, please contact me at 617.570.1760. </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Very truly yours,</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>/s/ Yoel Kranz<BR>


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</FONT> <FONT SIZE=2> Yoel Kranz, Esq.<BR>
Goodwin Procter </FONT><FONT SIZE=2>LLP</FONT></TD>
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<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>cc:</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Patrick
Welch, </FONT><FONT SIZE=2><I>Atlantic Power Corporation</I></FONT><FONT SIZE=2><BR>
Laura Hodges Taylor, Esq., </FONT><FONT SIZE=2><I>Goodwin Procter </I></FONT><FONT SIZE=2>LLP</FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>7</FONT></P>

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