TSX : AXY
VANCOUVER, Sept. 1, 2011 /CNW/ - Alterra Power Corp. (TSX: AXY) is
pleased to announce that John Carson has been appointed as Chief
Executive Officer of the Company to enhance the Company's financial and
administrative management and to effect a split of the roles of
Chairman and CEO, both of which had been held by Ross Beaty, who will
remain Executive Chairman. Mr. Carson has been Executive Vice President
of Alterra since early this year when he joined Alterra's predecessor
company Magma Energy after many years in senior financial management
roles with large US-based renewable energy companies.
Commenting on Mr. Carson's appointment, Ross Beaty said, "Since our
foundation in 2008, we have grown rapidly and now operate six clean
power plants in three countries. John's deep financial, managerial and
administrative experience in the clean power business will strongly
support the Company as it continues to grow organically and through
acquisition. As Executive Chairman, I intend to remain just as actively
involved in the business as I have been since inception. Donald
McInnes, Executive Vice-Chairman, and Bruce Ripley, Chief Operating
Officer, will continue to provide their exceptional experience on
Alterra's senior management team. This strong and deep team will lead
Alterra in its next stages of growth as it continues its mission as a
leading global renewable power company."
About Alterra Power Corp.
Alterra Power Corp is a leading global renewable energy company, formed
in 2011 through the merger of Magma Energy Corp and Plutonic Power
Corp. We operate six power plants totaling 571 MW of capacity,
including two geothermal facilities in Iceland, a geothermal plant in
Nevada, British Columbia's largest run of river hydro facilities and
the province's largest wind farm. Our 315 MW share of production
generates 1,575 GWh of clean power annually. We have an extensive
portfolio of exploration and development projects, a skilled
international team of explorers, builders and operators as well as the
strong financial capacity to support our aggressive 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.
SOURCE Alterra Power Corp.
For further information:
Anders Kruus, Vice President, Corporate Relations
Alterra Power Corp.