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Last C$0.10 CAD
Change Today +0.01 / 11.11%
Volume 35.1K
FVR On Other Exchanges
As of 2:24 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

finavera wind energy inc (FVR) Snapshot

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finavera wind energy inc (FVR) Details

Finavera Wind Energy Inc., a wind energy development company, develops wind energy projects in Canada and Ireland. It has a 10% interest in the Cloosh Valley Wind Project, a 105 megawatt late stage development project in County Galway, Ireland. The company was formerly known as Finavera Renewables Inc. and changed its name to Finavera Wind Energy Inc. in February 2011. Finavera Wind Energy Inc. was founded in 2003 and is headquartered in Vancouver, Canada.

Founded in 2003

finavera wind energy inc (FVR) Top Compensated Officers

Co-Founder, Chief Executive Officer, Director...
Total Annual Compensation: C$270.0K
President and Chief Operating Officer
Total Annual Compensation: C$240.0K
Chief Financial Officer
Total Annual Compensation: C$150.0K
Senior Vice President of Wind Energy
Total Annual Compensation: C$180.0K
Compensation as of Fiscal Year 2013.

finavera wind energy inc (FVR) Key Developments

Artie Rose to Join Finavera Wind Energy Inc.'s Newly Formed Advisory Board

Solar Alliance President and CEO Artie Rose will join Finavera’s newly formed Advisory Board on completion of the transaction.

Finavera Wind Energy Seeks Acquisitions

Finavera Wind Energy Inc. (TSXV:FVR) is looking for acquisition. Jason Bak, Chief Executive Officer of Finavera Wind Energy states, "We plan to grow Solar Alliance organically throughout California and make further acquisitions in order to become a significant player in the US residential solar market. This expansion will create value for the Company in the near term, with much greater long term potential for shareholders."

Finavera Wind Energy Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Finavera Wind Energy Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income was $18.4 million or $0.46 earnings per share compared with net loss of $1.4 million or $0.03 per share a year ago. Current period net income is mainly comprised of the gains from the sale of the Company's wind projects totaling $18.1 million, a reversal of prior project costs of $0.3 million, gains on debt settlements of 0.3 million and operating costs of $0.3 million. In third quarter 2013, the loss is comprised of operating costs of $0.8 million, financing costs of $0.5 million and project costs of $0.1 million. For the nine months, the company reported net income of $14.3 million or earnings per share of $0.36 compared to a net loss of $4.0 million for the comparable period in 2013 or loss per share of $0.10. It is comprised of gain on sale of projects of $18.1 million, operating costs of $1.3 million, interest and financing costs of $1.0 million, project development costs of $1.1 million and contractual payroll obligations of $0.6 million. The large difference in operating expenses between the periods was professional fees of $174,000, a difference of $435,000, mainly due to legal provisions of $350,000 booked in 2013 and which were settled in 2014.


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