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Alterra Power Corp. has announced that it has entered into an agreement to acquire a portfolio of wind development assets at four sites in coastal British Columbia from a group of sellers led by English Bay Energy Limited.

The agreement concerns four early-stage wind farm sites located on Banks Island, Porcher Island and McCauley Island with an estimated generation capacity of over 1,000MW for the four sites. In consideration for the assets, the sellers will receive royalty payments during the operations phase of the projects, and under certain circumstances the sellers may receive additional compensation of up to 1.34 million Alterra shares.
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