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March 26, 2015 6:43 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of Alterra Power Corp.

Company Overview

Alterra Power Corp., together with its subsidiaries, is engaged in the acquisition, exploration, development, and operation of renewable power projects. As at December 31, 2013, it operated 6 power plants totaling 566 mega-watts (MW) of capacity, including 2 geothermal power plants in Iceland; 1 geothermal power plant in Nevada; 1 wind farm in British Columbia; and 2 run of river hydro power plants in British Columbia. The company owns 260 MW share of capacity generates approximately 1,300 GWh of clean power annually. It also has a portfolio of exploration and development projects. The company was formerly known as Magma Energy Corp. and changed its name to Alterra Power Corp. in May 2011. A...

888 Dunsmuir Street

Suite 600

Vancouver, BC V6C 3K4

Canada

Founded in 2008

Phone:

604-669-4999

Fax:

604-682-3727

Key Executives for Alterra Power Corp.

Chief Executive Officer and Director
Total Annual Compensation: $401.7K
Chief Financial Officer
Total Annual Compensation: $116.3K
Vice President of Hydro Power
Total Annual Compensation: $246.7K
Vice President of Wind and Geothermal Power
Total Annual Compensation: $243.8K
Compensation as of Fiscal Year 2013.

Alterra Power Corp. Key Developments

Alterra Power Corp. Reports Audited Consolidated Earnings and Production Results for the Year Ended December 31, 2014

Alterra Power Corp. reported audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported total revenue was $70,952,000 compared to $63,872,000 for the same period last year. EBITDA was $51,047,000 compared to $43,333,000 for the same period last year. Revenue was up 11%, due to increased revenues at HS Orka predominately due to an increase in retail energy sales coupled with a strengthening of the Icelandic Krona during the year, which resulted in an increase in gross profit of $4.1 million to $17.1 million. Net loss was $34.8 million, an improvement against the comparative year loss of $116.3 million. This net loss and decrease against prior year is largely due to non-cash items including: A $11.8 million non-cash loss against $21.7 million non-cash loss in 2013 in the value of the embedded derivative liabilities resulting from aluminum price fluctuations and foreign exchange; and a $22.4 million write-down of development costs against $120.5 million write-down in 2013. The write-down in 2014 is comprised of $16.8 million for Dokie 2, $0.3 million for the Upper Lillooet geothermal project (both related to a worsened outlook for obtaining power purchase agreements in British Columbia in the near term) and $5.3 million for the Soda Lake plant and equipment and geothermal development projects. Cash flow from operations was $26.8 million, an increase of 62% from the comparative year due to higher distributions received from Toba Montrose and Blue Lagoon in the year as well as increased EBITDA. For the year, the company power projects generated 2,413,652 MWh of clean power (101% of plan) led by the Toba Montrose facility.

Alterra Power Corp. to Report Fiscal Year 2014 Results on Mar 24, 2015

Alterra Power Corp. announced that they will report fiscal year 2014 results at 5:00 PM, Eastern Standard Time on Mar 24, 2015

Alterra Power Corp., 2014 Earnings Call, Mar 25, 2015

Alterra Power Corp., 2014 Earnings Call, Mar 25, 2015

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 8, 2015
15 MW (8 MW Net) Soda Lake Geothermal Facility in Fallon, Nevada
Merger/Acquisition
April 24, 2014
Jimmie Creek Power Project
 

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