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Alterra Power Acquires 320mw Boswell Springs Wind Project
Thursday 20 April 2017

20 April 2017 - Canadian renewable energy company Alterra Power Corp. (TSX: AXY) (OTC: MGMXF) has acquired the Wyoming, US-based Boswell Springs wind project, the company said.

Terms of the deal were not disclosed.

Alterra acquired the Project from Intermountain Wind, LLC along with certain of its partners and affiliates.

Boswell Springs is a 320mw portfolio of wind development projects located in Albany County, Wyoming.

Alterra said it expects the project to achieve commercial operations in 2020, selling 100% of its output under 20-year power purchase agreements with Rocky Mountain Power, a division of PacifiCorp.

The company commenced construction of the project's main power transformers in 2016, and expects the project to qualify for US renewable electricity production tax credits at the full rate.

Alterra Power is a renewable energy company that manages eight power plants totaling 825mw of hydro, wind, geothermal and solar generation capacity in Canada, the USA and Iceland.

Alterra owns a 385 MW share of this capacity, generating over 1,700gwhof clean power annually. Alterra also has an extensive portfolio of development projects and a skilled team of developers, builders and operators to support its growth plans.

Intermountain Wind is a developer of electrical generation and transmission projects. Intermountain was advised in the transaction by Houlihan Lokey, Inc.
Details
Date Published: 20/04/2017
Target: Boswell Springs wind project
Country: USA
Sector: Alternative Energy
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: Intermountain Wind
Buyer: Alterra Power
Comment:
Terms of the deal were not disclosed

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