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Alterra Receives C$110 Million Loan for Wind and Hydro Projects

Alterra Power Corp. (AXY), a Vancouver-based renewable-energy developer, received a C$110 million ($101 million) loan from AMP Ltd. to help build wind and hydroelectric projects in North America.

AMP Capital Investors Ltd. arranged the debt financing, which is secured against four renewable-energy projects totaling 264 megawatts of capacity, the Sydney-based investment firm said today in an e-mailed statement. Terms weren’t disclosed.

Alterra is using the funds to help develop its 62-megawatt Jimmie Creek hydro project in British Columbia and the 202-megawatt Shannon wind project in Clay County, Texas, as well as for general business purposes, according to the statement.

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To contact the editors responsible for this story: Reed Landberg at Alex Devine, Tony Barrett

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