Alterra Power's Dokie 1 Wind Farm in Proximity to Mount McAllister Forest Fire
VANCOUVER, July 16, 2014 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) announces that the Mount McAllister forest fire, approximately 56 km west of Chetwynd, British Columbia is near Alterra's Dokie 1 wind farm. The fire has not entered the project area, but project operations have been temporarily discontinued. All personnel have left the project area except for a small group performing fire-preventative measures.
Paul Rapp, Alterra's Vice President of Wind and Geothermal Power, said "Safety of our personnel is our first priority. We are hopeful the fire does not reach the Dokie 1 wind farm, but if it does, we expect any damage to be repairable and fully insured."
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, operating six power plants totaling 568 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, and a geothermal plant in Nevada. Alterra owns a 262 MW share of this capacity, generating approximately 1,300 GWh of clean power annually. Alterra has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.
The company trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information included in this news release are "forward-looking information" within the meaning of Canadian securities laws that involve risks and uncertainties. Forward-looking information relates to future events or future performance and reflects management's expectations and beliefs regarding future events as of the date hereof. Examples of forward-looking information in this news release include the extent to which damage that could result if the fire progresses will be repairable and the extent to which insurance would cover all damages resulting therefrom. Forward-looking information is based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. Alterra cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking information. Material risk factors and assumptions include: our preventative measures are not successful, our insurance policies may insufficient to cover all losses, and we experience a shortage or delay for replacement equipment and services, as well as those set out in the management's discussion and analysis section of Alterra's most recent annual report and quarterly report, and in Alterra's Annual Information Form for the year ended December 31, 2013. Although Alterra has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate and undue reliance should not be placed on forward-looking information. Except as required by law, Alterra undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.
SOURCE Alterra Power Corp.