Alterra Power and Fiera Axium Infrastructure Announce Partnership in Toba Montrose and Dokie 1 Facilities
TSX : AXY
VANCOUVER, Dec. 12, 2012 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) and Fiera Axium Infrastructure are pleased to announce that they are now partners at the 235 MW Toba Montrose run-of-river hydro facility and the 144 MW Dokie 1 wind farm in British Columbia, effective December 7. A consortium of Canadian investors led by Fiera Axium purchased GE Energy Financial Services' partnership interests, and now owns a 60% interest in Toba Montrose and a 49% interest in Dokie 1. Alterra's ownership interests in these facilities are unchanged at 40% and 51% respectively.
John Carson, Alterra's Chief Executive Officer, said, "Fiera Axium has a strong track record of success in British Columbia and elsewhere. So we're very pleased to have them as partners on some of our core operating assets, and will be looking at other ways to work together as well."
Stéphane Mailhot, Fiera Axium Infrastructure's President and Chief Operating Officer, said, "We are delighted to provide our investors with access to first-class hydro and wind generation facilities alongside Alterra, a leading renewable energy company. We look forward to a long and fruitful partnership."
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company. Alterra operates six power plants totaling 567 MW of capacity, including two geothermal facilities in Iceland, a geothermal plant in Nevada, British Columbia's largest run-of-river hydro facility and the province's largest wind farm. The company's 298 MW share of production capacity generates approximately 1,400 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects, a skilled international team of developers, explorers, builders and operators to support its growth plans.
About Fiera Axium Infrastructure
Fiera Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. The firm combines the capabilities of a group of professionals with extensive infrastructure development and management backgrounds, with the fund management expertise of one of Canada's leading independent fund managers in Fiera Capital Corporation (TSX: FSZ). Its management team comprises infrastructure investment specialists with decades of combined experience acquiring, developing, financing, operating and managing infrastructure assets. Fiera Axium Infrastructure is jointly controlled by Fiera Capital and Axium Infrastructure Management.
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.
SOURCE Alterra Power Corp.