Finavera Renewables announces sale of Ghost Pine wind project in Alberta
Finavera Renewables has purchased two projects in Alberta, the 75MW Ghost Pine and 75MW Lone Pine, in 2007. The company will retain its 50% ownership of the nearby 75 MW Lone Pine project. Jason Bak, CEO of Finavera Renewables, said: "This sale proves our development business model and illustrates our ability to add value to the company by developing wind projects. The transaction delivers a profitable outcome to Finavera in a relatively short time frame and we believe this is a good opportunity to monetize this investment. "This transaction puts our company in a much stronger financial position during these difficult market conditions and allows us to continue developing a strong pipeline of projects in British Columbia, Ireland and Alberta."