Member access

4-Traders Homepage  >  Shares  >  Toronto Stock Exchange  >  Alterra Power Corp    AXY   CA02153D1024

SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Alterra Power Corp : Nov 12, 2013 Alterra Completes Revised PPA for Jimmie Creek Hydro and Acquires 100% of Project

11/12/2013 | 10:24am US/Eastern
Recommend:
0


TSX : AXY

VANCOUVER, Nov. 12, 2013 /CNW/ - Alterra is pleased to announce that its 62 MW Jimmie Creek run-of-river hydroelectric project has completed an amendment of its power purchase agreement. Under the agreement, the Jimmie Creek project will sell 100% of its power to BC Hydro for 40 years commencing in August 2016. Alterra has also agreed to purchase the 49% project stake currently held by an affiliate of General Electric Energy Financial Services. Upon closing of this transaction, Alterra will own 100% of the Jimmie Creek project. All First Nations agreements and environmental permits for Jimmie Creek are in place.

Alterra's Vice President of Hydro Operations Jay Sutton said, "Finalizing this agreement with BC Hydro is an important milestone for Jimmie Creek, and will support us placing the project into construction in the first half of 2014. Completing this project will further establish Alterra as a leading hydroelectric producer in British Columbia and complement our growing wind, solar and geothermal operations."

About Alterra Power Corp.

Alterra Power Corp. is a leading global renewable energy company, managing seven power plants totaling 616 MW of capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, a geothermal plant in Nevada, and a solar facility in Ontario. Alterra owns a 302 MW share of this production capacity, generating approximately 1,400 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.

The company trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF.

Cautionary Note regarding Forward-Looking Statements and Information
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, the fulfillment of all conditions precedent to the obligation of the parties under the agreements, required consents and third party approvals. This news release also contains statements with respect to our plans to expand our operations, management's expectations regarding our growth, business prospects and opportunities and energy generation capacities. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.

SOURCE Alterra Power Corp.



distributed by
Recommend :
0
React to this article
Latest news on ALTERRA POWER CORP
03/31 ALTERRA POWER : Announces Audited Results for the Year Ended December 31, 2013 a..
03/27 ALTERRA POWER : Mar 27, 2014 Alterra Power Announces Audited Results for the Yea..
03/27 ALTERRA POWER : Announces Audited Results for the Year Ended December 31, 2013 a..
03/12 ALTERRA POWER : Announces Release Date of Audited Results for the Year Ended Dec..
02/26 ALTERRA POWER CORP : Feb 26, 2014 Alterra Power Announces HS Orka's 2013 Annual ..
02/26 ALTERRA POWER CORP : Alterra Power Completes Acquisition of Shannon Wind Project
02/26 ALTERRA POWER CORP : Alterra Power Announces HS Orka's 2013 Annual Financial Res..
02/24 ALTERRA POWER CORP : Feb 24, 2014 Alterra Power Completes Acquisition of Shannon..
02/24 ALTERRA POWER CORP : Alterra Power Completes Acquisition of Shannon Wind Project
01/16 ALTERRA POWER CORP : Jan 16, 2014 Alterra Completes Further Peruvian Joint Ventu..
Advertisement
Chart
Duration : Period :
Alterra Power Corp Technical Analysis Chart | AXY | CA02153D1024 | 4-Traders
Income Statement Evolution
Alterra Power Corp : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF