Finavera Completes Assignment of 184MW of wind projects to Pattern Energy

Finavera Completes Assignment of 184MW of wind projects to Pattern Energy 
VANCOUVER, March 17, 2014 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind 
Energy', 'Finavera' or the 'Company') (TSX-V: FVR), Pattern Renewable Holdings 
Canada ULC, a subsidiary of Pattern Energy Group LP ('Pattern') and British 
Columbia Power and Hydro Authority ('BC Hydro'), today executed agreements 
that provide for the Assignment of the 184 MW Meikle Wind Energy Project 
Electricity Purchase Agreement ('Meikle EPA') from Finavera to Pattern.  The 
assignment of the Meikle EPA from Finavera to Pattern is the last major 
milestone outstanding to close the Pattern acquisition of the Meikle project 
for gross cash consideration of $28 million. Finavera and Pattern will be 
working diligently to finalize this sale in the short term. 
Concurrent with the assignment of the Meikle EPA to Pattern, and as required 
by BC Hydro, 116MW of EPAs have been cancelled. Finavera retains the licenses 
and permits for those projects and continues to collect data from the sites. 
Finavera continues to work diligently on a strategic plan for the Company. The 
imminent close of the Pattern transaction will provide a solid platform for 
the next stage in Finavera's development. Further information on the Company's 
strategic plan will be released following the close of the Pattern transaction. 
Jason Bak, CEO 
About Finavera Wind Energy Inc. (www.finavera.com) Finavera Wind Energy is a 
company focused on developing renewable energy opportunities.  Our mission is 
to create and operate a diversified portfolio of renewable energy projects 
while protecting and enhancing the physical and social environment.  Finavera 
has developed over 360MW of wind projects and subsequently sold them to 
utilities or large independent power producers.  Finavera is continuing to 
opportunistically review prospects for growth and the enhancement of 
shareholder value. 
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."
 

SOURCE  Finavera Wind Energy Inc. 
Finavera Wind Energy, Jason Bak, CEO, +1 (604) 288-9051, info@finavera.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2014/17/c2632.html 
CO: Pattern Energy Group LP
ST: British Columbia
NI: ENV OIL ORDER  
-0- Mar/17/2014 13:39 GMT
 
 
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