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Alterra Power Corp (AXY.TO)

AXY.TO on Toronto Stock Exchange

7.68CAD
17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Alterra Power qtrly ‍consolidated revenue increased by 19% to $16.8 mln​
Thursday, 9 Nov 2017 10:53pm EST 

Nov 9 (Reuters) - Alterra Power Corp :Alterra Power announces results for the quarter ended september 30, 2017.Qtrly ‍consolidated revenue increased by 19% to $16.8 million in 2017​.  Full Article

INNERGEX RENEWABLE ENERGY TO ACQUIRE ALTERRA POWER CORP
Monday, 30 Oct 2017 03:21pm EDT 

Oct 30 (Reuters) - Innergex Renewable Energy ::INNERGEX RENEWABLE ENERGY TO ACQUIRE ALTERRA POWER CORP..INNERGEX RENEWABLE ENERGY INC - DEAL FOR ‍$1.1 BILLION​.INNERGEX - ‍ALTERRA SHAREHOLDERS TO RECEIVE $8.25 PER ALTERRA COMMON SHARE, PAYABLE IN $2.06 CASH AND 0.4172 OF A COMMON SHARE OF INNERGEX​.INNERGEX RENEWABLE ENERGY - DEAL TO BE ACCRETIVE TO CO'S DISTRIBUTABLE CASH FLOW/SHARE UPON COMPLETION OF ALTERRA'S PROJECTS CURRENTLY UNDER CONSTRUCTION​.INNERGEX - DEAL ‍PROVIDES FOR NON-SOLICITATION COVENANTS ON PART OF ALTERRA, RIGHT IN FAVOUR OF CO TO MATCH UNSOLICITED SUPERIOR PROPOSAL​.INNERGEX RENEWABLE ENERGY INC - ‍PURSUANT TO DEAL, ALTERRA SHAREHOLDERS TO GET CONSIDERATION CONSISTING ABOUT 25% CASH, 75% COMMON SHARES OF INNERGEX​.INNERGEX RENEWABLE ENERGY - ‍ONE MEMBER OF CURRENT BOARD OF DIRECTORS OF ALTERRA WILL JOIN BOARD OF DIRECTORS OF INNERGEX UPON CLOSING OF TRANSACTION​.INNERGEX- CO TO RECEIVE TERMINATION FEE OF ABOUT $18 MILLION FROM ALTERRA IN EVENT OF TERMINATION OF DEAL UNDER CERTAIN CIRCUMSTANCES.INNERGEX RENEWABLE ENERGY - DEAL TO BE FULLY FUNDED AND SUPPORTED BY A NEW SUBORDINATED UNSECURED LOAN FROM CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC​.INNERGEX - CO TO BUY ALL ISSUED, OUTSTANDING COMMON SHARES OF ALTERRA FOR AGGREGATE CONSIDERATION OF $1.1 BILLION, INCLUDING ASSUMPTION OF ALTERRA'S DEBT​.  Full Article

Alterra Power acquires California wind development project
Monday, 18 Sep 2017 09:01am EDT 

Sept 18 (Reuters) - Alterra Power Corp :Alterra Power acquires California wind development project.Alterra Power Corp - ‍alterra acquired Jawbone​ project from Jawbone Wind Energy Llc, which is principally owned by Philip and Daniel Rudnick.Alterra Power Corp - ‍expects Jawbone project to qualify for federal production tax credits at full rate​.Alterra Power Corp - ‍expect to contract Jawbone facility over next twelve months, and begin delivering power in 2020​.  Full Article

Alterra Power announces $133 million refinancing at HS ORKA
Friday, 15 Sep 2017 10:11am EDT 

Sept 15 (Reuters) - Alterra Power Corp :Alterra power announces $133 million refinancing at hs orka.Alterra power corp - ‍new loan, provided by arion bank, carries initial term of five years with options for hs orka to extend loan's term up to 18 years​.Alterra power corp - ‍loan will be secured by assets of hs orka and is non-recourse to alterra​.Alterra power corp - new loan will also enable increased dividends to alterra and hs orka's other shareholders beginning in 2019.Alterra power corp - primary uses of loan proceeds include construction of 9.9 mw brúarvirkjun hydro project, among others.  Full Article

Alterra qtrly consolidated revenue up 24 pct to $17.2 mln
Thursday, 10 Aug 2017 11:30pm EDT 

Aug 10 (Reuters) - Alterra Power Corp :Alterra Power announces results for the quarter ended June 30, 2017.Quarterly consolidated revenue increased by 24 percent to $17.2 million in 2017.  Full Article

Alterra Power secures financing for 11 MW Spartan solar project
Tuesday, 8 Aug 2017 09:00am EDT 

Aug 8 (Reuters) - Alterra Power Corp :Alterra Power secures financing for 11 MW Spartan solar project.Term loan will have a balloon payment based on a 6-year maturity and 20-year amortization​.Expects Spartan project (currently under construction) to achieve commercial operations in December 2017​.Spartan is contracted under 25-year power purchase agreement with board of trustees of Michigan state university for 100% of plant output​.  Full Article

Alterra Power announces termination of Blue Lagoon sales process
Thursday, 3 Aug 2017 09:00am EDT 

Aug 3 (Reuters) - Alterra Power Corp :Alterra Power announces termination of Blue Lagoon sales process.Alterra Power Corp - ‍Subsidiary has ended process regarding potential sale of HS Orka's 30% ownership interest in Blue Lagoon tourist resort​.Alterra Power Corp - ‍Alterra's partner at HS Orka, Jarðvarmi Slhf, whose consent was required, decided against selling stake at this time​.  Full Article

Alterra Power announces final settlement of Icelandic bond
Friday, 28 Jul 2017 09:00am EDT 

July 28 (Reuters) - Alterra Power Corp ::Alterra Power Corp sees 2018 generation 1,886 GWh.Alterra Power announces final settlement of Icelandic bond.Says Magma Energy Sweden entered into an agreement to settle its US$71.3 million non-recourse bond​.Says upon completion of agreement, Alterra's ownership stake in HS Orka will be reduced from 66.6% to 53.9%.Alterra Power Corp sees ‍2017 revenue $86.5 million​.Alterra Power Corp sees ‍2018 revenue $92.2 million.Alterra Power Corp FY2017 revenue view $83.1 million -- Thomson Reuters I/B/E/S.Alterra Power Corp sees 2017 adjusted EBITDA $47.2 million.Alterra Power Corp sees 2017 generation 1,526 GWh.Alterra Power Corp sees 2018 adjusted EBITDA $51.9 million.Says ‍revised forecasts reflect ownership change in HS Orka as of July 2017​.  Full Article

Alterra Power says negotiating final settlement of Icelandic bond
Thursday, 13 Jul 2017 09:00am EDT 

July 13 (Reuters) - Alterra Power Corp ::Alterra Power negotiating final settlement of Icelandic bond.Alterra Power Corp - ‍subsidiary in process of negotiating a final settlement of its US$71.3 million non-recourse bond which matures on july 16, 2017​.Alterra Power Corp - ‍collateral under bond will be delivered to bondholder , a consortium of Icelandic pension funds​.  Full Article

Alterra Power expands loan facility for Flat Top wind investment
Wednesday, 28 Jun 2017 09:00am EDT 

June 28 (Reuters) - Alterra Power Corp :Alterra power expands loan facility for flat top wind investment.Alterra power corp says expanded facility will be secured by and supported by cash flows from alterra's projected 51% ownership stake in flat top project.Alterra power- ‍loan expansion will fund in conjunction with completion of flat top project financing, which co expects to occur within next few weeks​.Alterra power corp - ‍alterra also expects to sell down a 49% interest in project to a sponsor-partner​.Alterra power corp says net proceeds, about us$20.6 million, will be used as part of alterra's sponsor equity contribution for flat top wind project.Alterra power corp - ‍project is expected to achieve commercial operations in first half of 2018​.  Full Article