in News Departments > New & Noteworthy
print the content item

Vancouver, British Columbia-based Finavera Renewables Inc. has filed applications to surrender its Federal Energy Regulatory Commission (FERC) license for the Makah Bay Wave Energy pilot project in Washington state and the Humboldt County preliminary permit for a proposed wave energy project in California.

The decision allows the company to focus its resources on enhancing its near-term wind project portfolio and provide shareholders with a clearer path to revenue in this challenging economic environment. The company retains all intellectual property associated with the AquaBuOY technology and is actively seeking financial and technical partners for the future development of the technology.

The immediate primary focus remains the continued development of the Finavera's wind projects in British Columbia and Ireland through partnerships and/or joint venture arrangements. The company also plans to execute on its project finance agreements and bring the wind energy assets to commercial operation. In the longer term, the company will continue to assemble a diversified mix of revenue-producing renewable energy assets.

SOURCE: Finavera Renewables Inc.



Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015