Finavera, Pattern close Canada deal

Finavera Wind Energy has received the final C$16.5m ($15.1m) payment from Pattern Energy Group’s subsidiary in Canada under an earlier 184MW sale of projects.

Pattern made the payment primarily in the form of debt forgiveness and earlier than scheduled in first quarter 2015, Finavera says.

In April, Finavera announced it had received C$9.3m from Pattern. The portfolio of projects now owned by Pattern are located in British Columbia’s Peace River region.

Finavera is based in Vancouver.