Highlights for the quarter and subsequent period include:
- Geothermal field improvement at Reykjanes: Recent field enhancement efforts (including well venting and turbine pressure adjustments) have resulted in increased generation (plant currently running at highest output level in 14 months, 75 MW). Quarterly generation increased 5% compared to the fourth quarter of 2016 and 3% over the previous quarter. The company expects further increases in plant output in 2018 from the drilling of planned new wells, well work-overs, and potentially from the recent deep drilling project.
- Termination of Blue Lagoon sales process: The company ended the sales process for the 30% stake in the Blue Lagoon held by HS Orka. Although multiple offers were received in excess of €90 million, Alterra's partner, Jarðvarmi slhf, whose consent was required, decided against selling the stake at this time.