Finavera Wind Energy Receives Final $16.5 million Earn Out from Pattern Energy

Finavera Wind Energy Receives Final $16.5 million Earn Out from Pattern Energy 
VANCOUVER, July 30, 2014 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind 
Energy', 'Finavera' or the 'Company') (TSX-V: FVR) is pleased to announce it 
has received a final $16.5 million of consideration, primarily in the form of 
debt forgiveness, from Pattern Renewable Holdings Canada ULC, a subsidiary of 
Pattern Energy Group LP ('Pattern Development') as the final amount payable 
under the Purchase and Sale Agreement for 184 megawatts (MW) of wind projects, 
previously announced on April 29(th), 2013.  The final consideration has been 
received earlier than the anticipated date in Q1 2015, based in part on the 
successful development of the Meikle Project.  The $16.5 million consideration 
is in addition to the $9.3 million previously received by the Company from 
Pattern Development as previously announced on April 17(th), 2014. 
The receipt of the final payment from Pattern Development was used primarily 
to retire secured debt in the Company.  Combined with the recent sale of the 
Company's remaining 10% interest in the Cloosh Valley Wind Project for €2.1 
million, this transaction is another step towards a stronger balance sheet and 
the ability to capitalize on new opportunities in the renewable energy 
marketplace.  Further information on the Company's strategic plan will be 
released in advance of the Company's AGM on September 12(th), 2014. 
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/July2014/30/c3267.html 
CO: Finavera Wind Energy Inc.
ST: British Columbia
NI: OIL UTI ENV LOAN MNA  
-0- Jul/30/2014 12:30 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.