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Alterra Power Announces Annual Results; Fell 5% To Yr Lows Wednesday

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Global renewable energy company Alterra Power Corp. (AXY.TO), which fell nearly 5% to year lows Wednesday, said net interest in revenue for the year was US$87.2 million and net interest in EBITDA was $37.0 million; gross earnings remained steady at 24% of revenues for the year, marginally down from 25% in the previous six-month reporting period; power production from Alterra's six power plants of 2,250,804 MWh was at 98% of budgeted generation (94% of long-term forecast annual generation, which does not take into account planned outages), with consistently strong performances at the Svartsengi and Reykjanes geothermal plants offset by lower than forecast production from the Soda Lake geothermal plant, Toba Montrose and Dokie 1 wind farm. Alterra's net interest in generation totaled 1,316,004 MWh.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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