Highlights for the current quarter include:
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- Power production from Alterra's six power plants was 99% of budgeted forecast (446,845 MWh). Alterra's net interest in generation totalled 302,719 MWh.
- HS Orka received $37.5 million from the issuance of shares to Alterra's partner in HS Orka, a group of Icelandic pension funds ("Jarðvarmi"). Jarðvarmi exercised an option in February 2012 to purchase the additional shares at a 15.6% premium to the original purchase price on a per share basis. Jarðvarmi previously held a 25% interest in HS Orka and now holds 33.4%.
- The US Treasury Department awarded a grant of $2.1 million to the Company's Soda Lake operations under the American Recovery and Reinvestment Act.