Aug 8 (Reuters) - Alterra Power Corp AXY.TO
* Alterra Power secures financing for 11 MW Spartan solar project
* Term loan will have a balloon payment based on a 6-year maturity and 20-year amortization
* Expects Spartan project (currently under construction) to achieve commercial operations in December 2017
* Spartan is contracted under 25-year power purchase agreement with board of trustees of Michigan state university for 100% of plant output