Alterra Power Appoints Director of Project Finance / M&A

TSX : AXY

VANCOUVER, May 7, 2013 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) announces the appointment of Jon Schintler to the position of Director, Project Finance / Mergers & Acquisitions, effective immediately. Mr. Schintler brings extensive experience in leading tax equity and debt financings in the power sector. Most recently, Mr. Schintler was Director of Finance at Chicago-based Invenergy LLC, a clean energy company with nearly 7,000 MW in operation and under construction. Mr. Schintler is a designated Chartered Financial Analyst and holds a Bachelor of Business Administration from the University of Iowa.

John Carson, Alterra's Chief Executive Officer, said, "We are pleased to add someone of Jon's caliber to the Alterra team, particularly with his deep expertise on the tax structuring side. Given the number of opportunities and transactions we are working on, Jon will play an instrumental role in helping us achieve our growth goals and optimizing our economic returns."

About Alterra Power Corp.

Alterra Power Corp. is a leading global renewable energy company. Alterra operates six power plants totaling 566 MW of capacity, including two geothermal facilities in Iceland, a geothermal plant in Nevada, British Columbia's largest run-of-river hydro facility and the province's largest wind farm. The company's 297 MW share of production capacity generates approximately 1,400 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects, a skilled international team of developers, explorers, builders and operators to support its growth plans.

The company trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF.

Cautionary Note regarding Forward-Looking Statements and Information

This news release contains certain "forward-looking information" within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, the fulfillment of all conditions precedent to the obligation of the parties under the agreements, required consents and third party approvals. This news release also contains statements with respect to our plans to expand our operations, management's expectations regarding our growth, business prospects and opportunities and energy generation capacities. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.

SOURCE Alterra Power Corp.

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