The company will now install and place into service a new, currently-owned 50MW turbine, as well as a 30MW low pressure turbine which will be powered from existing steam production.

Alterra also said it is continuing its effort to finalize power purchase arrangements with aluminum smelter Noroural Helguvik, which is a unit of Century Aluminum, and other industrial power purchasers.

Alterra’s Icelandic subsidiary HS Orka CEO Julíus Jonsson said full attention is now focused on finalizing power purchase and financing arrangements, which the company intends to achieve in the next few months.