VANCOUVER, BC, Canada, Dec. 13, 2012 /CNW/ - Alterra Power Corp. (TSX:
AXY) announces that a large naturally-occurring rockslide near its 88
MW Montrose hydroelectric facility caused significant damage yesterday
to a 200-300 metre section of the five kilometer penstock which
supplies water from the water intake to the power generating plant. The
intake and power plant were not affected and there were no
injuries. The cost of needed repairs is currently being assessed, and
the repairs may require the Montrose plant to be off line for several
months. Property damage and business interruption are expected to be
fully insured and it is hoped that repairs can be carried out during
the winter months when water flows and power generation are
minimal. The nearby 146 MW Toba hydroelectric plant was not affected
and remains in operation.
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.
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.