Vancouver-based developer Finavera Wind Energy Inc. reports that its shareholders have overwhelmingly voted in favor to authorize the sale of the company's interest in two wind farms.
At an annual meeting on June 14, 98.99% of represented Finavera shares voted in favor of the previously announced transaction – well above the 66.67% necessary. In April, the developer announced it had finalized a $28 million purchase and sale agreement with Pattern Renewable Holdings Canada ULC, a subsidiary of Pattern Energy Group LP, for Finavera's 47 MW Tumbler Ridge and 117 MW Meikle wind energy projects. However, the transaction required shareholder approval.
‘We are completely aligned with Pattern Energy to progress these projects to operation and will continue to provide Pattern with ongoing support in order to facilitate the key milestone of construction financing," says Finavera CEO Jason Bak.