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Alterra Power Buys Remaining Stake in Canada Hydro Plant From GE

Nov. 12 (Bloomberg) -- 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.

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

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