tsx axy otc pink mgmxf industry renewable energy predecessor magma energy plutonic power headquarters vancouver canada key people ross beaty chairman donald mcinnes vice chairman john carson ceo 1 products geothermal power run of the river hydroelectricity wind power solar power 2 subsidiaries hs orka website www.alterrapower.ca alterra power corp. is a diversified renewable power generation company based in vancouver british columbia canada . it was formed in 2011 through the merger of magma energy corp. and plutonic power corp. it develops geothermal hydroelectric wind and solar energy projects . the company is listed under axy on the toronto stock exchange and has a secondary listing otc in the united states under mgmxf us . 3 toba montrose run of river power plant intake contents 1 merger 2 power plants 3 expansion projects 3.1 run of river expansions 3.1.1 upper toba valley 3.1.2 bute inlet 3.2 solar power expansions 4 orka s controversy 5 references 6 external links merger edit on 7 march 2011 it was announced that magma energy and plutonic power would merge to create alterra power corp. 4 magma energy was renamed alterra power and each shareholder of plutonic power received 2.38 shares of magma for each plutonic share held . as a result the merged company owns two geothermal power plants in iceland and one in nevada one run of river hydro plant and one wind farm in british columbia and an option on a solar project in ontario . executive chairman of alterra power is ross beaty founder of magma energy and the ceo is john carson . 5 power plants edit name technology location nameplate capacity toba montrose run of river british columbia canada 235 mw reykjanes geothermal reykjanes peninsula iceland 100 mw svartsengi geothermal svartsengi geothermal field iceland 72 mw soda lake geothermal nevada usa 23 mw dokie 1 wind power british columbia canada 144 mw abw solar power ontario canada 50 mw expansion projects edit run of river expansions edit its proposed 40 run of river hydroelectric development projects have a design capacity of nearly 2 000 mw with the potential to generate approximately 5000 gwh per annum of green energy enough energy to meet the annual energy needs of over 500 000 homes . included in the 40 projects is the creation of the green power corridor a series of non storage hydroelectric projects in southwestern bc which hold the potential to bring british columbia to the forefront of green energy generation in north america . the completion of the corridor would create approximately 4 000 person years of employment . partnership has started construction on the toba river energy development located 100 km north of powell river british columbia canada . construction services for the 196 mw run of river project is overseen by peter kiewit inc. a subsidiary of the kiewit corporation and will produce 745 gwh a of electricity and at an approximate cost of 660 000 000 . 6 once complete it will be the largest private funded renewable energy project in british columbia history . citation needed upper toba valley edit the upper toba valley hydroelectric project 7 consists of two renewable green power facilities constructed at the headwaters of the toba inlet on jimmie creek and the upper toba river . installed capacity of the two facilities is 124 mw with an expected annual energy generation of 316 gw hr yr . alterra has received an energy purchase agreement from bc hydro to construct the upper toba facility . 7 in 2013 alterra also received an energy purchase agreement from bc hydro to construct the 62mw jimmie creek facility part of the same project . 8 bute inlet edit the bute inlet hydroelectric project 9 consists of 17 facilities at the headwaters of bute inlet located about 150 200 km 93 124 mi north of powell river british columbia . combined these facilities have a potential capacity of 1027 mw with potential energy generation of 2905 gwh per year . this project was not awarded an energy contract from bc hydro and therefore is currently not proceeding . solar power expansions edit in early 2011 plutonic power agreed together with ge energy financial services to purchase three proposed photovoltaic power plants in ontario from first solar . the three plants will have a total capacity of 50 mw divided between amherstburg 10mw belmont 20mw and walpole 20mw . this represents a first venture into solar power for plutonic power although engineering procurement construction and operation will still be provided by first solar . 10 orka s controversy edit in 2010 during the icelandic financial crisis magma energy acquired 98.5 % of shares in the icelandic geothermal power company hs orka . 11 the deal created an opposition in iceland . on may 21 2010 icelandic singer bj rk wrote an open letter in the newspaper reykjav k grapevine calling on the icelandic government to do everything in its power to revoke the contracts with magma energy . 12 the deal was approved by the icelandic government . 13 recently alterra as operator has 67 % while the icelandic pension funds helds 33 % . 14 references edit management . retrieved 21 june 2012 . assets . retrieved 21 june 2012 . http alterrapower.ca investors stock info default.aspx join news mar 07 2011 magma energy corp and plutonic power corporation to merge and create alterra power corp . cnw . retrieved 28 march 2014 . management . retrieved 20 june 2012 . http www.marketwire.com press release plutonic power corporation tsx pcc 786201.html a b upper toba expansion fact sheet pdf . november 22 2011 . retrieved april 9 2016 . alterra completes revised ppa for jimmie creek hydro and acquires 100 % of project . november 12 2013 . retrieved april 9 2016 . http www.plutonic.ca s buteinlet.asp reportid 107480 http international.pv tech.org news plutonic power ge energy agree to buy 50mw canadian portfolio kessler richard a. 2010 09 03 . done deal magma owns nearly all of hs orka in iceland . recharge . nhst media group . subscription required . retrieved 2010 09 04 . bj rk gu mundsd ttir 2010 05 21 . bj rk on magma energy . reykjav k grapevine . retrieved 2010 05 21 . romano benjamin 2010 07 28 . magma confident hs orka geothermal transaction is legal . recharge . nhst media group . subscription required . retrieved 2010 09 04 . http www.alterrapower.ca properties by technology geothermal default.aspx external links edit official website v t e companies based in the metro vancouver area 604 records a & w canada advanced cyclotron systems apparent networks avigilon aritzia army & navy stores ballard power systems best buy canada black box games blenz coffee blueshore financial boston pizza brightlight pictures british columbia maritime employers association broadbandtv corp chc helicopter ctc bank of canada cactus club cafe canada wide media limited canadaupdates canfor canucks sports and entertainment central 1 credit union central heat distribution choices market citizens bank of canada clearly.ca coast capital savings coast mountain bus company commodore books cymax stores dairyland canada dan d foods dollar tree canada d wave systems e comm ea canada ebco industries eldorado gold envision financial fairchild group finning first quantum minerals fortisbc freshslice pizza goldcorp great northern way campus greenpeace gulf and fraser fishermen s credit union happy planet heffel gallery hellbent games hootsuite hothead games hsbc bank canada insights west intrawest ironclad games ivanhoe mines limited jet black games jim pattison group justason market intelligence kerberos productions klei entertainment london drugs lululemon athletica lush north america macdonald dettwiler macdonald realty magma energy mclean group of companies methanex metrolyrics modo car co op nature s path netsentron nettwerk nevada geothermal power new gold next level games nintendo of canada o2e brands ocean productions panago the pantry piranha games plentyoffish premium brands holdings corporation radical entertainment relic entertainment ricky s all day grill ritchie bros. auctioneers shavick entertainment sierra wireless silver standard resources silver wheaton slant six games softquad software stylus sofas synthetic entertainment t & t supermarket teck resources telus tenke mining teradici united front games univar canada vancity vancouver airport services vancouver film studios versacold vision critical west fraser timber west coast air white spot zulu records retrieved from https en.wikipedia.org w index.php title alterra power & oldid 739504271 categories companies listed on the toronto stock exchangecompanies based in vancouverrenewable energy companiesgeothermal energy in canadahydroelectric power companies of canadahidden categories pages containing links to subscription only contentall articles with unsourced statementsarticles with unsourced statements from october 2009 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk 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