Alterra Power

Ross Beaty, Executive Chairman

Alterra Power is a Canadian company that operates in the field of renewable energies. It was created in 2011 from the merger of Magma Energy and Plutonic Power. Through the merger, the company is in possession of a wind farm and a hydroelectric power plant in British Columbia, two geothermal power plants in Iceland and one in Nevada. These power plants have a combined capacity of approximately 342 megawatts ( MW).

Structure

The senior management team consists of 13 people who constitute the board. Chairman is Ross Beaty, the beginning of 2008, the company Magma Energy Corp.. founded for the development of international geothermal projects. Deputy Donald McInnes, founder and CEO of Plutonic Power. The current CEO John Carson has gained his professional experience at General Electric. For the Finance Peter Wong is responsible, who worked in one of the predecessor companies since 2005. Technically the field of wind power, hydropower and geothermal energy as well as the project areas U.S. and Chile are represented on the board as well.

The Supervisory Board (Board of Directors ) consists of seven people, including the CEO Beaty and his deputy McInnes. About the composition of the Supervisory Board will be decided by the shareholders at the AGM.

Business

In Canada and Iceland to an extension of the existing facilities is provided. The current generation of energy from hot springs to be increased to 2014 by around 50 % to 250 MW. Financially, the participation of an Icelandic pension funds is provided to 25 %. Concerning Canada, near the existing hydroelectric power plant that runs with a capacity of 78.4 MW since 2010, another result with a capacity of 124 MW will be going mid-year 2015. On the hydropower plants in Canada Alterra and General Electric are both involved in approximately the same height. The power of the wind power plant in Canada to be quadrupled by the end of 2014.

In Ontario, there are three photovoltaic projects with a total capacity of 50 MW in the planning of which dates back a 10 - MW project from the predecessor company Plutonic Power. At the further project development General Electric holds 90%. Further projects in the countries of Chile, Italy and Peru are planned.

Share

The stock of Alterra is listed on the Toronto Stock Exchange and is also traded in Frankfurt and other international stock exchanges. The General Meeting of Shareholders was held on May 14, 2012. The Company is authorized to issue an unlimited number of shares. As of April 2, 2012 were 465,699,499 fully paid, par value shares in circulation. According to the company Beaty holds approximately 26 % of the shares, the majority as Trustees of the Sitka Foundation. Alterra is in Ardour Global Alternative Energy Index and is listed in RENIXX World segment of the stock index for renewable energy.

The orcas controversy

In 2010, during the financial crisis in Iceland, Magma Energy acquired 98.5 % of the shares from the HS Orka geothermal companies. This trade came in Iceland resistance. The singer Björk wrote an open letter to the newspaper Reykjavík Grapevine, calling on the government to do everything possible to cancel the contract.