Alterra Power Forms Further Geothermal Venture With EDC in Peru

Alterra Power Corp., a Vancouver-based renewable-energy developer, formed a further joint venture with Energy Development Corp. (EDC) for the rest of its geothermal projects in Peru.

EDC, the largest Philippine geothermal power generator, will take a 70 percent interest in the venture and provide $6 million in development costs, Alterra said today in a statement.

In May, EDC agreed to take a 70 percent in a separate venture to develop four of Alterra’s projects in Peru and Chile. The latest deal will cover the remainder of Alterra’s geothermal development assets in Peru, according to today’s statement.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

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

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