Alterra Power Corporation
Soda Lake Geothermal Plant
Sale of 15 MW Soda Lake Geothermal Power Plant to:
Alterra Power Corp. (TSX: AXY) sold its 15 MW (8 MW net) Soda Lake geothermal facility located in Fallon, Nevada to an affiliate of Cyrq Energy for US$8.5 million. Included in the sale are certain early-stage development assets also located in Nevada. Alterra may receive additional compensation over the five years following the sale upon the achievement of certain performance-related or earn-out provisions.
Marathon Capital acted as exclusive financial advisor to Alterra Power Corp.
Additionally, Alterra will retain solar development rights at the Soda Lake facility site for solar projects of up to 40 MW total for up to eight years.