The Lake Project is a 121 MW dual-fueled (oil and natural gas), combined-cycle, cogeneration project located in Umatilla, Florida that commenced commercial operation in July 1993. Atlantic Power indirectly owns 100% of the Project. Lake sells all of its capacity and electric energy to Progress Energy Florida under a power purchase agreement expiring in 2013.
Iberdrola Renewables (formerly PPM Energy), is the primary natural gas supplier for the Project under a gas supply agreement that expires in 2013. A subsidiary of Caithness Energy operates and manages the plant on Atlantic Power's behalf.
Upgraded turbines were installed in December 2007 which increased the Project's efficiency by approximately 4% and its output by approximately 10%.