Alterra Power Buys Remaining Stake in Canada Hydro Plant From GE

Alterra Power Corp., a Vancouver-based renewable-energy developer, agreed to buy the 49 percent of a Canadian run-of-river hydroelectric project that it doesn’t already own from General Electric Co. (GE)

That will make Alterra the sole owner of the 62-megawatt Jimmie Creek project in British Columbia, the company said today in a statement. Terms weren’t disclosed.

Construction is expected to begin in the first half of next year. BC Hydro will purchase the electricity under a 40-year contract beginning in August 2016.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.