Alterra Power Completes $110 Million Holding Company Financing

        Alterra Power Completes $110 Million Holding Company Financing  PR Newswire  VANCOUVER, Aug. 13, 2014  VANCOUVER, Aug. 13, 2014 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) announces it has closed a C$110 million loan facility with affiliates of AMP Capital Investors Limited.  Proceeds from the loan facility will be received in up to three tranches:  1.Tranche A totaling C$67.3 million on or before August 15, 2014. 2.Tranche B totaling C$21.5 million at or after the closing of construction     financing for the 62 MW Jimmie Creek hydro project, subject to certain     agreed conditions precedent. 3.Tranche C totaling C$21.2 million at or after the closing of construction     financing for the 204 MW Shannon wind project, subject to certain agreed     conditions precedent.  Proceeds from the facility will be used to pay development and construction costs and sponsor equity contributions for the Jimmie Creek and Shannon projects (which had been temporarily funded by Alterra's revolving credit facility) and for other general corporate purposes.  Tranche A of the loan will be secured by Alterra's interests in the Toba Montrose and Dokie 1 projects (subject to senior secured project debt) and supported solely by equity distributions from these projects, which will be held in a wholly-owned subsidiary of Alterra. Upon closing of Tranches B and C, the cash flows from Jimmie Creek and Shannon, respectively, will also support the facility.  The loan facility will mature on February 5, 2023, and has no scheduled payments of principal prior to maturity. The loan facility has no equity or equity-related components. Loan pricing is approximately 8.0% per annum based on current market rates. Alterra is currently in discussions with several parties to swap the floating rate loan obligations for fixed-rate obligations.  John Carson, Alterra's Chief Executive Officer, said "This financing is built on the strong value of Alterra's clean power projects, and will take Alterra into its next growth phase. The facility will provide us with enough capital to fund our ownership equity for the Jimmie Creek and Shannon projects, and will seed our next growth projects as well. We are very pleased to be funding these projects with competitively-priced debt capital, and with no equity issuance."  About Alterra Power Corp.  Alterra Power a leading global renewable energy company, operating six power plants totaling 568 MW of generation capacity, includingBritish Columbia'slargest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, and a geothermal plant inNevada. Alterra owns a 262 MW share of this capacity, generating approximately 1,300 GWh of clean power annually. Alterra has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.  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 Information  Certain  statements  and  information  included  in  this  news  release   are  "forward-looking information" within the  meaning of Canadian securities  laws  that involve risks and  uncertainties. Forward-looking information relates  to  future events or future performance and reflects management's expectations and beliefs  regarding  future  events  as   of  the  date  hereof.  Examples   of  forward-looking information in this news release include the use of  proceeds,  the timing of the potential funding of  the loan tranches, and the ability  of  Alterra  or  its  affiliates  to  satisfy  conditions  precedent  to   funding  subsequent tranches of the loan facility. Forward-looking information is based on factors or assumptions that were applied in drawing a conclusion or  making  a forecast or  projection, including assumptions  based on historical  trends,  current conditions  and expected  future developments.  Since  forward-looking  information relates to  future events and  conditions, by its  very nature  it  requires making  assumptions and  involves inherent  risks and  uncertainties.  Alterra cautions  that  although  it  is believed  that  the  assumptions  are  reasonable in the circumstances,  these risks and  uncertainties give rise  to  the  possibility  that   actual  results  may   differ  materially  from   the  expectations set out in the forward-looking information. Material risk factors and assumptions  include those  set  out in  the management's  discussion  and  analysis section of Alterra's most recent annual and quarterly reports and  in  Alterra's Annual  Information  Form for  the  year ended  December  31,  2013.  Although Alterra has attempted to identify important factors that could  cause  actual actions, events  or results to  differ materially from  forward-looking  information, there may be other factors that cause actions, events or  results  not to be  as anticipated, estimated  or intended. There  can be no  assurance  that forward-looking information will prove to be accurate and undue  reliance  should not be  placed on  forward-looking information. Except  as required  by  law,  Alterra  undertakes   no  obligation  to   update  any   forward-looking  information to reflect new information, subsequent or otherwise.  SOURCE Alterra Power Corp.  Contact:  Peter Lekich, Corporate Communications Alterra Power Corp. Phone: 604.235.6719  
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