Finavera Renewables Receives Executed Power Purchase Agreements

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Vancouver, British Columbia-based Finavera Renewables Inc. has received executed versions of the four power purchase agreements (PPAs) recently awarded in the BC Hydro clean power call.

The PPAs were delivered by BC Hydro for the Tumbler Ridge, Wildmare, Meikle and the Bullmoose wind energy projects. These four contracts combined have the potential to generate approximately $2.5 billion in revenue over their 25-year lifetime.

Finavera has also announced that the total capacity of its four projects has increased. The company was initially awarded PPAs that covered a total of 293 MW of capacity across the four agreements. The capacity has since been increased based on additional studies and advances in technologies, and the four projects now total over 300 MW of renewable wind energy. The company has also posted approximately C$2 million in performance security guarantees with BC Hydro for the four projects.

SOURCE: Finavera Renewables Inc. Â

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