Alterra Power Announces Sale of ABW Solar Project

VANCOUVER, Dec. 2, 2013 /CNW/ - Alterra Power Corp. (TSX: AXY) is pleased to announce the sale of its 10% stake in the 50 MW ABW Solar project to a consortium led by Fiera Axium Infrastructure, Inc.

Alterra CEO John Carson said "This transaction provides immediate positive returns to our shareholders and continues the strong relationship with our partner in British Columbia, Fiera Axium. Alterra will continue to look at other profitable solar opportunities in 2014, though our primary development focus is placing the Jimmie Creek Hydro and Shannon Wind projects into construction."

About Alterra Power Corp.

Alterra Power Corp. is a leading global renewable energy company, operating six power plants totaling 566 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 297 MW share of this capacity, generating approximately 1,400 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 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.

SOURCE: Alterra Power Corp.

Peter Lekich, Corporate Communications
Alterra Power Corp.
Phone: [phone]
Email: [email protected]