Alterra Power MGMXD

RE:Jimmie Creek achieves full 62 MW output

[R_J_]

News Release:
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VANCOUVER, July 5, 2016 /CNW/ - Alterra Power Corp. ("Alterra") is pleased to announce
 that its newest power plant, the Jimmie Creek run-of-river hydroelectric project that has been
 under construction since 2014, achieved its full capacity output of 62 MW for the first time on
 June 29.
On the same day, Alterra's East Toba and Montrose plants achieved 238 MW of gross output,
for a total of 300 MW of output from the three plants, which Alterra co-owns with funds
 managed by Axium Infrastructure, Inc.
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"After a two-year construction period, we are excited to see Alterra's latest renewable project
 operating at full strength," said Jay Sutton, Alterra's VP of hydro operation.
"The Jimmie Creek project remains ahead of schedule and under budget,
and will be a strong addition to Alterra's hydro generation portfolio."
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Jimmie Creek is currently selling its power under a contract with Powerex Corporation.
Alterra expects the project to achieve full commercial operations in August,
when it will begin selling 100% of its power under a 40-year contract with BC Hydro.
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Louis James Commemts
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Quote:
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Finishing the job is good.
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“Ahead of schedule and under budget” is better.
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A 40-year contract that assures profit is even better.
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Altogether, this is excellent progress, and we expect it to deliver to the bottom line this quarter.
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End Quote.
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RJ