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.
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