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Alterra Power Corp's shareholders votes in favour of approval of the arrangement with Innergex.

M2 EQUITYBITES-December 15, 2017-Alterra Power Corp's shareholders votes in favour of approval of the arrangement with Innergex

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Alterra Power Corp (TSX:AXY) stated on Thursday that 99.89% of its shares represented at its special meeting of shareholders voted in favour of the special resolution approving the arrangement with Innergex Renewable Energy Inc.

Under the arrangement, Innergex Renewable Energy Inc will acquire all of the issued and outstanding common shares of Alterra.

In conjunction, Alterra will apply for a final order of the Supreme Court of British Columbia approving the arrangement on or about 18 December 2017 and is in the process of obtaining various regulatory approvals and key third party consents. Completion of the arrangement is expected to occur in the first quarter of 2018.

A renewable energy company, Alterra Power Corp manages operations of eight power plants totalling 825 MW of hydro, wind, geothermal and solar generation capacity in Canada, the USA and Iceland. It owns a 364 MW share of this capacity, generating over 1,500 GWh of clean power annually. It constructing the 200 MW Flat Top wind project in central Texas, which is expected to be in operation in the first half of 2018 . It will operate nine power plants totalling 1,025 MW of capacity and will own a 465 MW share of this capacity, generating almost 2,000 GWh of clean power annually. It has a skilled team of developers, builders and operators to support its growth plans.

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Publication:M2 EquityBites (EQB)
Date:Dec 15, 2017
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