Longview Capital Partners Congratulates Finavera Renewables on
Longview Capital Partners Congratulates Finavera Renewables on Wind and Wave Energy Contracts
VANCOUVER, BC -- (MARKET WIRE) -- 03/21/07 -- Longview Capital Partners Incorporated (TSX-V: LV) congratulates Finavera Renewables Inc. (TSX-V: FVR) on the acceleration of both its wind and wave energy programs. With the purchase of the 150 MW Three Hills wind power project in Alberta, Finavera Renewables intends to begin construction next year -- two years ahead of its original schedule for revenue generation. The ocean energy technology division has also quickened its commercialisation schedule by signing a system integrator contract with SAIC (NYSE: SAI), a worldwide leader in marine engineering employing 43,000 across the globe.
The Three Hills wind project is located in high efficiency wind resource area in central Alberta approximately 120km northeast of Calgary. The Alberta Electrical System Operator ("AESO") has made a grid connection offer for the first half of the Three Hills project under Alberta's self-imposed 900MW wind energy cap; the project is fifth on the list of firm capacity offered by AESO. Finavera will also take full advantage of eligibility for Greenhouse Gas (GHG) credits and the Canadian Wind Power Production Incentive.
The AquaBuOY wave energy contract with SAIC includes system integration, systems engineering and design review support, plus program and project management support. SAIC will work with Finavera to develop, integrate, procure, install and test Finavera's patented AquaBuOY ocean energy conversion device in marine renewable energy parks. SAIC is a leading provider of scientific, engineering, systems integration and technical services and products to all branches of the U.S. military, as well as to customers in selected commercial markets.
Finavera Renewables was co-founded by Damien Reynolds, Chairman and CEO of Longview Capital Partners and has been part of the Longview Capital Partners portfolio since inception. Longview Capital Partners is an Investment Issuer, focused on capitalizing on early stage opportunities in the resource sector.
On behalf of the Board of Directors,
Damien Reynolds, Chairman & CEO
For more information on Longview Capital Partners Incorporated, please visit our website at www.longviewcp.com, or call the Company at (604) 681-5755.
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Contact: Longview Capital Partners Incorporated www.longviewcp.com (604) 681-5755
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