Iceland buys back into Magma-owned power plant
Magma Energy is selling a 25% interest in its recently purchased Icelandic geothermal power company HS Orka to a group of the country’s pension funds for about US $71.5 million.
Magma, Plutonic plan renewable power merger
Magma Energy and Plutonic Power intend to merge and create a more diverse renewable energy power producer. The new company, Alterra Power, will be worth about $575 million.