The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

Finavera Wind Energy's Wildmare and Tumbler Ridge Wind Energy Projects Enter Environmental Assessment Review Stage

Monday, April 04, 2011

Finavera Wind Energy's Wildmare and Tumbler Ridge Wind Energy Projects Enter Environmental Assessment Review Stage08:00 EDT Monday, April 04, 2011VANCOUVER, April 4 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy' or the 'Company') (TSX-V: FVR) is pleased to announce the British Columbia Environmental Assessment Office has formally accepted the Company's applications for an environmental assessment certificate for the proposed 77 megawatt (MW) Wildmare and 47 MW Tumbler Ridge Wind Energy Projects on the basis that the applications contain the information prescribed by the Application Information Requirements. The Application review process for the two projects officially began on April 1, 2011. The Application Review stage must be completed in a maximum of 180 days. After the Review stage is complete, they will be considered by the Ministers for an Environmental Assessment certificate (maximum 45 days).The commencement of the 180 Application Review stage on April 1, 2011 ensures the projects remain on schedule for their proposed financial close and commercial operation dates. The Application Review stage will include a public comment period and open houses in the local communities close to the project sites.The Tumbler Ridge and Wildmare Wind Energy Project Environmental Assessment applications can be viewed at: www.eao.gov.bc.ca.The Environmental Assessment Application for the Company's 117 MW Meikle Wind Energy Project will be submitted to the EAO in the Spring of 2011, and the Application for the 60 MW Bullmoose Wind Energy Project is scheduled to enter the Environmental Assessment process the following year.Jason Bak, CEOAbout Finavera Wind Energy Inc. (www.finavera.com)Finavera Wind Energy is a wind energy development company focused on developing, constructing, and operating wind farms in North America and Ireland. Our mission is to create and operate a viable renewable energy business while protecting and enhancing the physical and social environment. In British Columbia, Canada, projects totaling 301 MW have been awarded 25 year Electricity Purchase Agreements. In Ireland, the Company has signed a co-development agreement with Scottish and Southern Renewables for the 105MW Cloosh Valley Wind Project. Data collection and environmental studies have been continuing at a number of prospective sites in Canada and the United States.Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements."Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." For further information: Finavera Wind Energy Myke Clark SVP Business Development Finavera Wind Energy (604)-288-9051mclark@finavera.comInvestor Relations Spyros Karellas Pinnacle Capital Markets (416)-800-8921 (416) 433-5696 spyros@pinnaclecapitalmarkets.ca