North American Windpower: Alterra Power Repays Loan, Enters Into New Credit Facility

Alterra Power Repays Loan, Enters Into New Credit Facility

by NAW Staff on Tuesday 02 August 2011

Alterra Power Corp., a developer of wind projects in Canada, has repaid the C$22 million owing under its credit facility from Chairman and CEO Ross Beaty.

A new credit facility with identical terms has been entered into, allowing Alterra Power to borrow up to C$20 million at any time during the next 12 months for working capital or other purposes.

At present, no borrowing against this facility is planned, as the company says it has adequate capital for all of its planned activities this year.

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