These two projects are part of Finavera’s four projects that were each awarded 25-year power purchase agreements from BC Hydro in March 2010.
The company said that the projects are on schedule and in line with an estimated $350m project financing which is expected to close in Q4 2011 followed by commencement of construction immediately thereafter.
Commercial operation dates are estimated to be in late 2012, followed by initial revenue.
Based on existing conditions and with the mitigation proposed, the projects are not expected to result in any significant impacts for the biophysical, social, heritage, economic and health components assessed for these applications, the company said.
The final decision on impacts will be determined by the BC Ministry of Environment and the BC Ministry of Energy and will be reflected in a decision to issue Environmental Assessment Certificates to the company for the projects.
Finavera is a wind energy development company focused on developing, constructing, and operating wind farms in North America and Ireland.
