Finavera Negotiates Financing For Four B.C. Projects

NAW Staff, Tuesday 08 July 2008 - 10:28:50

Vancouver. B.C.-based Finavera Renewables Inc. has entered into discussions with a potential corporate investor, and has received a nonbinding indicative financing proposal from such investor, in connection with four wind projects currently being developed by Finavera Renewables in the Peace Region of B.C.

Under the proposal, the investor would invest 100% of the equity requirements for each of the four projects awarded an electricity purchase agreement by BC Hydro pursuant to the BC Hydro Clean Power Call.

"This proposal contains financing solutions for these 300 MW of wind projects in British Columbia and would allow us to move forward with strong bids to secure power purchase agreements," says Jason Bak, CEO of Finavera Renewables.

Finavera Renewables has conducted detailed turbine layout assessments for the projects, and discussions are under way with major turbine manufacturers for the supply of wind turbines.

SOURCE: Finavera Renewables Inc.



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