Alterra Power Corp. reports its financial and operating results for the three months ended March 31, 2015. Alterra consolidated 100% of the results of operations at HS Orka and Soda Lake (until Soda Lake was sold on January 30, 2015).
On January 30, 2015, the company sold the 15 MW Soda Lake geothermal facility and related geothermal development assets to an affiliate of Cyrq Energy, Inc. for proceeds of $8.5 million plus potential additional compensation over the next five years upon the achievement of certain earn-out provisions. Alterra retained the rights to develop a 40 MW solar project at the site.
