Vancouver, British Columbia-based Finavera Wind Energy has completed a series of agreements for the sale of its 10% equity interest in the 105 MW Cloosh Valley Wind Project to SSE Renewables for EUR 2.1 million.
The Cloosh Valley Wind Project, located in County Galway, Ireland, was co-developed by Finavera Wind Energy, SSER and Coillte, a state-owned commercial forestry and renewables company.
‘Finavera originated and completed the early-stage risk development of the Cloosh Valley Wind Project beginning in 2005,’ explains Finavera CEO Jason Bak. ‘With the addition of SSER and Coillte as co-development partners in 2010, the project achieved a number of successful milestones which have resulted in full planning permission and all major permits being received. We are confident the Cloosh Valley Wind Project is on track to arrange project finance later this year.’