in News Departments > FYI
print the content item

Finavera Wind Energy, the developer behind the 184 MW Meikle Wind Energy Project, located in British Columbia, says the project has received its environmental assessment certificate from British Columbia's Environmental Assessment Office.

Finavera sold the wind project to Pattern Development in April and received approximately $9.3 million.

According to Jason Bak, chief executive officer of Vancouver-based Finavera, additional proceeds are expected once construction financing is finalized in early 2015.

Bak says obtaining the environmental certificate gives Finavera confidence that the project will get built - therefore, fulfilling the terms of its sales agreement with Pattern.

"As a result of the successful completion of this milestone, Finavera has more confidence and much less risk in completing the terms of the sale agreement with Pattern Development," explains Bak. "With proceeds from the sale, Finavera plans to aggressively reduce short- and long-term debt and focus on another fast-growing area of renewable energy development. Finavera is working on transactions to put forward for shareholder approval.


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