Canada's Finavera Wind puts itself up for sale with 302MW

Canada’s Finavera Wind Energy is in discussions with three potential buyers and has appointed corporate advisers Capital West Partners to review acquisition offers, the Vancouver-based company says.

“Finavera intends to move expeditiously to explore transaction proposals and consummate a transaction in the near term,” according to the company, which did not name the interested bidders.

Finavera’s main assets are four wind projects totalling 301.6MW in the Peace River region of northeastern British Columbia, which have 25-year power purchase agreements with provincial utility BC Hydro. They are Bullmoose, 60MW; Meikle, 117MW; Tumbler Ridge, 47.2MW, and Wildmere, 77.4MW.

A sale would allow the buyer to close financing for Tumbler Ridge, begin the environmental review process for Meikle, and repay or refinance the…

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