in News Departments > FYI
print the content item

Finavera Renewables Inc. has signed an agreement with Trafalgar Capital Specialized Investment Fund to carry out $10 million in unsecured convertible debenture financing. Finavera Renewables will draw down an initial $2 million upon closing of the final agreement. The remaining $8 million may be drawn down using either convertible or non-convertible structures as negotiated by Finavera Renewables and Trafalgar.

This convertible debenture financing will provide Finavera Renewables with the working capital required to continue the development of its wind and wave energy projects as the company moves toward several key milestones, including:

- investigation of joint venture and various partnership opportunities as part of a financing strategy for the company's portfolio of wind projects in Alberta, British Columbia and Ireland,

- preparing bids to enter up to five British Columbia wind projects into the 2008 BC Hydro call for clean power,

- completing final design for the 75 MW Ghost Pine wind project in Alberta, which is in the process of submitting final environmental and development permits, and

- finalizing the technology advancement plan for AquaBuOY 3.0 wave energy technology and project development prospects.

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Canwea_id1984
BG 2015DblBox_id2032
Renewable NRG_id1934
Hybrid Energy Innovations 2015