Alterra Power and Greenbriar Capital Announce Solar Partnership
VANCOUVER, April 28, 2013
TSX : AXY
VANCOUVER, April 28, 2013 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) and
Greenbriar Capital Corp. (TSXV: GRB) are pleased to announce they have entered
into a partnership, AG Solar One, which intends to develop 100 MW of solar
generation capacity in Puerto Rico under a Master Renewable Power Purchase and
Operating Agreement with the Puerto Rico Electric Power Authority. The
partnership, which will be owned 50/50 by Alterra and Greenbriar, acquired
rights to the master agreement last week.
John Carson, Alterra's Chief Executive Officer, said, "We're excited to be
working with the Greenbriar team, with their strong Puerto Rico experience,
and putting our combined efforts toward developing and completing this solar
project. The partnership may pursue other projects together as well, which
will bolster Alterra's external growth plans and complement its internal
growth projects such as the Jimmie Creek hydro plant."
Jeff Ciachurski, Greenbriar's Chief Executive Officer, said, "We are delighted
to partner with Alterra Power Corp., a company which holds the unique position
of operating the four corners of renewable energy generation. The direct
experience by Alterra of owning and operating wind, solar, hydro and
geothermal makes the partnership with Greenbriar a fully integrated renewable
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company. Alterra
operates six power plants totaling 566 MW of capacity, including two
geothermal facilities in Iceland, a geothermal plant in Nevada, British
Columbia's largest run-of-river hydro facility and the province's largest wind
farm. The company's 297 MW share of production capacity generates
approximately 1,400 GWh of clean power annually. Alterra also has an extensive
portfolio of exploration and development projects, a skilled international
team of developers, explorers, builders and operators to support its growth
The company trades on the Toronto Stock Exchange under the symbol AXY and OTC
in the United States as MGMXF.
Cautionary Note regarding Forward-Looking Statements and Information
This news release contains certain "forward-looking information" within the
meaning of Canadian securities laws, which may include, but is not limited to,
statements with respect to future events or future performance, the
fulfillment of all conditions precedent to the obligation of the parties under
the agreements, required consents and third party approvals. This news release
also contains statements with respect to our plans to expand our operations,
management's expectations regarding our growth, business prospects and
opportunities and energy generation capacities. Such forward-looking
information reflects management's current beliefs and is based on information
currently available to management.
SOURCE Alterra Power Corp.
Peter Lekich, Corporate Communications
Alterra Power Corp.
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