04 Jul '13, 3pm

Finavera Wind Energy's Path to Cash

Finavera Wind Energy's Path to Cash

Next day or two: Approval of the purchase by the Toronto Venture Exchange. This should be completed in the next day or so. July: Finavera will submit Miekle into the environmental review process. Tumbler Ridge already has all necessary approvals. Late August/ Early September: Approval by BC Hydro . BC Hydro needs to update the Power Purchase Agreement (PPA) for the Miekle and Tumbler Ridge projects to reflect the new owner. With the business-friendly Liberals returned to power in British Columbia, Bak expects this process to go smoothly. The defeated NDP had favored the utility to develop its own projects, rather than buying power from independent producers like Pattern. At this point, Pattern will pay Finavera C $9.3 million which the latter will use to repay a similar amount of debt to Pattern. For simplicity, I’ve also been referring to this as loan forgiveness. H2 2013...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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@cleantechnica

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Ten Clean Energy Stocks for 2013: First Half Review: Filed under: Energy News

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