Alterra Power Sells Nevada Geothermal Plant

Alterra Power Corp. (TSX: AXY) has agreed to sell 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 next five years upon the achievement of certain performance-related or earn-out provisions. Completion of the sale is expected in January 2015, subject to satisfaction of customary conditions precedent.

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.

Alterra was advised on the transaction by Marathon Capital, LLC.

About Alterra Power Corp.

Alterra Power Corp. is a leading global renewable energy company, operating five power plants totaling 553 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, and two geothermal facilities in Iceland. Alterra owns a 247 MW share of this capacity, generating over 1,250 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.

- See more at: http://www.alterrapower.ca/news/Press-Release/News-Releases/News-Releases-Details/2015/Alterra-Power-Announces-Sale-of-Soda-Lake-Facility/default.aspx#sthash.8KgUuqLa.dpuf

Alterra Power Corp. has agreed to sell 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 next five years upon the achievement of certain performance-related or earn-out provisions. Completion of the sale is expected in January 2015, subject to satisfaction of customary conditions precedent.

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. Alterra was advised on the transaction by Marathon Capital, LLC.

Alterra Power Corp. is a leading global renewable energy company, operating five power plants totaling 553 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, and two geothermal facilities in Iceland.

Alterra owns a 247 MW share of this capacity, generating over 1,250 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.

Alterra Power Corp.
www.alterrapower.ca