Alterra Power completes JV with EDC on remaining projects in Peru
Landscape at Lampa, Puno, Peru (source: flickr/ Ivoinperu, creative commons)
Alexander Richter
16 Jan 2014
Alterra Power Corp. completes another joint venture with Energy Development Corp. (EDC) from the Philippines, on the remaining geothermal development assets in Peru, giving EDC a 70 percent interest in the asset portfolio.
In a release today, Canadian Alterra Power Corp. (TSX: AXY) announces that it has completed another joint venture with Philippine based Energy Development Corporation (EDC).
The agreement covers the remainder of Alterra’s geothermal development assets in Peru. Under the agreement, EDC will get a 70% interest in the development asset portfolio and will be funding 100% of the next $6 million of development costs. Next activities for these concessions will include advanced exploration activities designed to identify the best locations for power plant development and construction.
Source: Company release by email
