VANCOUVER, Sept. 23, 2013 /PRNewswire/ - Alterra Power Corp. (AXY.TO) is pleased to announce that generation has resumed at the Montrose hydro facility, which is part of Alterra's 235 MW Toba Montrose hydro facility, co-owned with Fiera Axium Western Energy. Repairs of the facility's penstock, which was damaged in a December 2012 rockslide, were completed last week. Several site improvements including protective berms are also nearing completion and will significantly lessen the likelihood of any future damage or interruption.
Jay Sutton, Alterra's Vice President of Hydro Power, said "We are very pleased to have this facility fully back on line. I credit our team and contractors for completing the project in an efficient and, most importantly, safe manner. We're having an extremely strong generation season at the site, so it's great to be back to business as usual."
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, managing seven power plants totaling 616 MW of capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, a geothermal plant in Nevada, and a solar facility in Ontario. Alterra owns a 302 MW share of this production capacity, generating approximately 1,400 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.
The company trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF.
Cautionary Note regarding Forward-Looking Statements and Information
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, the fulfillment of all conditions precedent to the obligation of the parties under the agreements, required consents and third party approvals. This news release also contains statements with respect to our plans to expand our operations, management's expectations regarding our growth, business prospects and opportunities and energy generation capacities. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.
- Investment & Company Information