VANCOUVER, Oct. 25, 2016 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) ("Alterra") is pleased to announce the completion of the refinancing the $72 million bond (all amounts USD) formerly held by Reykjavik Energy (Orkuveita Reykjavíkur, or "OR"). The principal under the original bond held by OR has been reduced to $36 million, and maturity has been extended to April 2018. A second bond for approximately $36 million, held by Alterra's Executive Chairman, Ross J. Beaty, will mature in October 2021. Both bonds are issued by a subsidiary of Alterra, and have no recourse to Alterra. All previously announced terms of the bonds remain in place.
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, operating seven power plants totaling 819 MW of generation capacity including British Columbia's largest run-of-river hydro facility and largest wind farm, the recently completed Shannon and Jimmie Creek projects, and two geothermal facilities in Iceland. Alterra owns a 381 MW share of this capacity, generating over 1,700 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects and a skilled team of developers, builders and operators to support its growth plans.