Finavera and GE Unit to Partner for British Wildmare Wind Farm

17 February 2011 (Last Updated February 17th, 2011 18:30)

GE Energy Financial Services, a GE unit, will provide equity investment in a 77MW wind farm to be built by Finavera Wind Energy in British Columbia, Canada. GE Energy Financial Services will offer cash equity for the $200m Wildmare Wind Energy project. Finavera will provide the no

GE Energy Financial Services, a GE unit, will provide equity investment in a 77MW wind farm to be built by Finavera Wind Energy in British Columbia, Canada.

GE Energy Financial Services will offer cash equity for the $200m Wildmare Wind Energy project.

Finavera will provide the non-cash equity, which will include the energy contract, permits and development work to date and serve as managing partner for the project, retaining a 30% economic interest.

The two firms will together arrange debt financing and retain a third-party engineering firm to oversee construction of the project.

The project has a 25-year power purchase agreement with BC Hydro.