Finavera has also entered into an agreement to sell a majority interest in its Cloosh Valley onshore wind project to SSE Renewables (Ireland) for €8.4m.
The wind project has received a Gate 3 Node Assignment from Irish state-owned electric power transmission operator Eirgrid.
Finavera will retain a 10% equity interest in the project, which is expected to provide enough electricity for approximately 68,000 homes.
The wind farm is located on Coillte-owned lands, and Finavera will participate in all project development functions and activities.
