ABB_id2059
in News Departments > FYI
print the content item

Wind power developer Finavera Wind Energy Inc., which put itself up for sale last month, says it has expanded discussions with four potential bidders.

These discussions are at an advanced stage, and initial offers are expected shortly, the company notes.

In addition, there are a number of new entrants who have signed non-disclosure agreements and are currently reviewing data and conducting initial due diligence.

Mergers and acquisitions adviser Capital West Partners is responding to the inquiries and will review the offers received, Finavera explains. Capital West will then present its recommendation to the special committee of the board, which is composed of four independent directors.

The special committee is charged with ensuring that the review of a proposed transaction is made without conflict of interest among the company and its directors, controlling shareholders and management.

The four potential bidders in advanced discussions with the company have completed significant due diligence, including thorough reviews of the company's documentation, site visits to a number of project locations, confirmation of turbine supply pricing and construction costs, and an assessment of the financial returns from the projects, Finavera adds.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.


Utilities Deal "Near-Fatal" Blow To Cape Wind: UPDATED

Despite its remarkable resiliency, could this latest setback mean the end for the controversial offshore wind farm?

Hybrid Energy Innovations 2015