Alterra Power in JV to Advance Italian Geothermal Projects (Press Release)
Alterra Power Corp., based in Vancouver in Canada, has announced that it has entered into a
Joint Venture with an affiliate of
Graziella Green Power, an Italian developer of solar and geothermal assets. The joint venture will further advance the
Mensano and Roccastrada geothermal concessions which Alterra was awarded in 2011. Graziella will fund approximately $4.0 million for the joint venture's next development activities, and will own a 55% interest in the joint venture.
Paul Rapp, Alterra's VP of geothermal and wind operations, said "We are pleased to be working with Graziella Green Power, a strong Italian partner with a proven track record of project development. We believe the joint venture is well-positioned to advance these prime geothermal properties to the next stage of development and to take advantage of other project opportunities."
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