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Message: NR update on new assets

Jun. 28, 2011 (Canada NewsWire Group) --


VANCOUVER, June 28, 2011 /CNW/ - Alterra Power Corp. (TSX: AXY) is pleased to provide an update on operations and power production at the Toba Montrose hydro facilities, owned by the Toba Montrose General Partnership, and the Dokie wind farm, owned by the Dokie General Partnership. Both facilities are operated by Alterra Power on behalf of the partnerships. As a result of the merger of Plutonic Power with Magma Energy, Plutonic did not release results for the first quarter of 2011. Alterra's next financial report, for its 2011 fiscal year end of 30 June, is not scheduled to be released before mid-September. Alterra therefore provides the following interim update:

  • Both the East Toba and Montrose facilities have been running at high capacity since early June, with average generation for the month near capacity at 190 MW. An unusually cool spring and above average snowfall in 2011 resulted in a near record snowpack that remains at 165% of average. Based on this snowpack and inflow forecasts Alterra expects the facilities to continue running at these elevated levels through the summer and well into the fall.

  • To date in June the combined East Toba and Montrose facilities have had an average daily generation of 4,550 MWh, with a high on June 23 of 5,350 MWh.

  • At the Dokie wind farm facility, all 48 wind turbines are operating successfully. From the start of commercial operations on February 16, 2011 through to the end of May, wind turbine availability has averaged 95.6%, notably higher than expected.

  • High rainfall on June 24 and 25 caused severe flooding in the Chetwynd area near the Dokie wind farm. Road access to the site was impacted by washouts and two feeder transmission lines were slightly damaged, but the wind farm facilities did not experience any significant damage and have continued generation. The feeder transmission line repairs are scheduled to be completed by June 29.

Bruce Ripley, Alterra's Chief Operating Officer, said, "I am pleased that our inaugural year at the Toba Montrose hydro facilities is shaping up to be an exceptional one due to the favourable snowpack that creates our generation base for much of the year. I am also pleased at the good operating performance of our Toba Montrose and Dokie facilities and commend our management teams at each of these operations for their excellent work."

About Toba Montrose General Partnership

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