Canada: Geothermal Energy Company Alterra Power Corp. Sold

Innergex Renewable Energy To Acquire Alterra Power Corp. (News Release)

Innergex Renewable Energy Inc., a renewable energy company based in Québec Canada, and Alterra Power Corp., based in Vancouver, BC, have announced today that they have entered into an arrangement agreement pursuant to which Innergex will acquire all of the issued and outstanding common shares of Alterra  for an aggregate consideration of $1.1 billion, including the assumption of Alterra’s debt.

Alterra will complement Innergex’s current operating, under construction and prospective projects, resulting in increased geographic and technological diversification through meaningful presence in the United States and Icelandic power markets as well as the addition of geothermal power generation to Innergex’s production mix.

Alterra Power has a 54% stake in the 54 MW (Net Installed Capacity) Reykjanes (1&2) geothermal power plant and a 54% stake in the 49 MW (Net Installed Capacity) Svartsengi geothermal power plant which includes a  a 30% stake in the Blue Lagoon Geothermal Spa and Resort.

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