The Suits Are Flocking to Renewables

The Suits Are Flocking to Renewables

Postby Oscar » Mon May 18, 2015 11:02 am

The Suits Are Flocking to Renewables

[ http://thetyee.ca/News/2015/05/18/Suits ... ign=180515 ]

Investors like the 'predictability' of clean energy.

By Richard Littlemore, TheTyee.ca May 18, 2015

If you're looking for revolutionaries, radicals and upstart disrupters, you wouldn't generally search among a crowd of municipal bureaucrats, policy wonks and business people, all suited up for a conference at the Four Seasons Hotel in Vancouver.

But the 350-odd delegates to the first Renewable Cities Global Learning Forum made it clear last week that revolution is decidedly their goal. They intend, by every means possible, to consign fossil fuels to the dustbin of history. And much, much sooner than most people are prepared to expect.

This is not journalistic interpretation or a suggestion from the most optimistic and least powerful delegates, idling on the side of the room. Ross Beaty, founder and still chair of the second-largest silver mining company in the world (Pan American Silver Corp.), and one of the conference's main sponsors, said it plainly halfway through the first day: "It's a revolution."

The "it" in question is the corporate swing from non-renewable fuel sources like coal and oil to the alternatives that Beaty now makes available through his most recent venture, Alterra Power, a mid-sized renewable energy company with solar, wind, hydro and geothermal operations in B.C., Ontario and Iceland.

In a panel discussion, in answer to a question about ethical divestment of fossil fuels, Beaty said, "It's almost irrelevant. Coal, especially, is a dinosaur industry. It's going out of business .... It's just a bad industry to invest in, whether you divest for ethical reasons or not."

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[ http://thetyee.ca/News/2015/05/18/Suits ... ign=180515 ]

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Alterra Power Corp

[ http://www.alterrapower.ca/ ]

Company Profile:

Alterra Power Corp. is a leading global renewable energy company, operating five power plants totaling 553 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, and two geothermal facilities in Iceland. Alterra owns a 247 MW share of this capacity, generating over 1,250 GWh of clean power annually.

Alterra has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.

Alterra also has two new projects under construction:

Jimmie Creek – 62 MW run-of-river hydro project adjacent to the existing Toba Montrose facility; expected to be in operation by Q3 2016; 51% owned by Alterra
Shannon – 204 MW wind project located in Clay County Texas; expected to be in operation by Q4 2015; projected 50% ownership by Alterra (currently 100%)
Upon completion of these two projects Alterra will operate seven power plants totaling 819 MW of capacity and will own a 381 MW share of this capacity, generating over 1,700 GWh of clean power annually.

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[ http://www.alterrapower.ca/ ]
Oscar
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