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September 05, 2015 4:07 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Alterra Power Corp.

Company Overview

Alterra Power Corp., together with its subsidiaries, owns, acquires, develops, and operates renewable power projects. The company operates power plants totaling 553 MW of capacity, including 2 geothermal facilities in Iceland; a 235 MW run-of-river hydro facility; and a 144 MW wind facility in British Columbia. It was formerly known as Magma Energy Corp. and changed its name to Alterra Power Corp. in May 2011. The company was incorporated in 2008 and is headquartered in Vancouver, Canada.

888 Dunsmuir Street

Suite 600

Vancouver, BC V6C 3K4

Canada

Founded in 2008

141 Employees

Phone:

604-669-4999

Fax:

604-682-3727

Key Executives for Alterra Power Corp.

Chief Executive Officer and Director
Total Annual Compensation: $412.9K
Chief Financial Officer
Total Annual Compensation: $198.3K
Vice President of Hydro Power
Total Annual Compensation: $265.0K
Vice President of Wind and Geothermal Power
Total Annual Compensation: $262.0K
Vice President of Solar Power and Engineering
Total Annual Compensation: $219.1K
Compensation as of Fiscal Year 2014.

Alterra Power Corp. Key Developments

Alterra Power Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2015

Alterra Power Corp. announced unaudited consolidated earnings results for the second quarter ended June 30, 2015. For the quarter, the company reported total revenues of $13,522,000 compared to $16,453,000 a year ago. EBITDA was $11,645,000 compared to $9,955,000 a year ago. Revenue was down 18% from the comparative quarter primarily due to the loss of revenue resulting from the sale of Soda Lake on January 30, 2015 ($1.1 million impact quarter on quarter) and unfavorable currency fluctuations. The company recorded net income of $6.8 million in the current quarter, compared to net income of $6.0 million in the comparative quarter. The increase was primarily from changes to income from equity-accounted investees and non-cash items such as the change in fair value of bonds payable and the gain on deconsolidation of Shannon which includes the $1.5 million developer's fee. Net interest in revenue decreased by $2.1 million to $17.7 million against the comparative quarter due to the sale of Soda Lake on January 30, 2015 ($1.1 million impact quarter on quarter) and currency impacts, slightly offset by increased generation at Toba Montrose. Consolidated EBITDA increased 17% against the comparative quarter to $11.6 million, reflecting increased generation at Toba Montrose and lower operating costs at HS Orka along with fluctuations in foreign exchange.

Alterra Power Corp. to Report Q2, 2015 Results on Aug 11, 2015

Alterra Power Corp. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 11, 2015

Alterra Power Corp., Q2 2015 Earnings Call, Aug 12, 2015

Alterra Power Corp., Q2 2015 Earnings Call, Aug 12, 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
 

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