Fiera Axium Infrastructure acquires stake in Canadian wind project

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Fiera Axium Infrastructure acquires stake in Canadian wind project

Alterra Power Corporation announced in late December that it has sold half of its 51 % stake in the Dokie 1 wind farm to Fiera Axium Western Energy for roughly C$28.6 million (US$26.9 million).

Alterra  may also receive up to an additional C$2.25 million over the next three years depending on performance.

Fiera Axium adds this 25.5% stake to the 49% interest it already holds. Alterra will retain 25.5% ownership of Dokie 1, and will continue to operate and manage the project.

 John Carson, Alterra CEO, stated:

This transaction is a good growth milestone for us, providing us substantial capital to support our 2014 growth projects. Alterra's revenue, cash flow and owned generation capacity will all improve versus our pre-sale position as this capital gets deployed, resulting in overall accretion for our shareholders.

In addition to Dokie 1 Alterra Power Corp. is 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 inIceland, and a geothermal plant inNevada. Alterra owns a 260 MW share of this capacity, generating approximately 1,300 GWh of clean power annually.

Fiera Axium Infrastructure US L.P. announced on December 16th the financial closing of its acquisition of a 49% equity interest in the 97 MW Wheat Field Wind Farm located in Gilliam County, Oregon from EDP Renewables (EDPR).

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