OTCPK:MGMXD - Post by User
Post by
cheapinskion Dec 29, 2015 11:10am
123 Views
Post# 24416602
well, isnt this good news?
well, isnt this good news? VANCOUVER, Dec. 29, 2015 /CNW/ - Alterra Power Corp. (TSX: AXY) is pleased to announce the receipt of a US$3.5 million return of capital from the Shannon project representing unused contingency following retirement of the construction loan. Alterra expects up to US$1.0 million in further such funds pending the resolution of certain construction insurance-related matters. Regular operating distributions from the project are expected to commence in early 2016.
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, operating six power plants totaling 757 MW of generation capacity including the Shannon wind project, British Columbia's largest run-of-river hydro facility and largest wind farm, and two geothermal facilities in Iceland. Alterra owns a 349 MW share of this capacity, generating over 1,600 GWh of clean power annually.