Finavera Wind Energy

Finavera Wind Energy Inc.

Company type	Public
Industry	Wind power
Founded	2003
Defunct	2017
Fate	Acquired by Solar Alliance Energy Inc.
Headquarters	Vancouver , Canada
Area served	Northeastern British Columbia, Canada; Ireland (former)
Products	Wind farms, wind energy development

Finavera Wind Energy Inc. was a Canadian enterprise specializing in wind power, active between 2007 and 2017, with ownership and operation of wind farms located in northeastern British Columbia. The company’s headquarters were situated in Vancouver, and it was publicly traded on the TSX Venture Exchange from 2007 until its acquisition by Solar Alliance Energy Inc. in 2017. Initially established as Finavera Renewables Inc. in Dublin, Ireland, in 2003, the firm engaged in wind farm development across both Canada and Ireland.

In 2005, Finavera secured a 10% interest in the wave energy company AquaEnergy Group, subsequently acquiring full control in 2006. This division was rebranded as Finavera Renewables Ocean Energy and focused on advancing the AquaBuOY wave energy technology, which was intended for deployment off the coast of Newport, Oregon. Nevertheless, in 2010, Finavera divested its ocean energy segment to concentrate solely on wind power initiatives.

Operations

Finavera developed four wind power projects within the Peace Region of Northern British Columbia, collectively delivering up to 301 megawatts (MW) of capacity—sufficient to supply electricity to roughly 75,000 homes. These projects comprised the Tumbler Ridge, Wildmare, Meikle, and Bullmoose wind farms. In March 2010, BC Hydro granted Finavera four long-term electricity purchase contracts spanning 25 years each under its 2008 Clean Power Call program. To support this development effort, Finavera entered into a $7.5 million Joint Development Agreement with GE Energy.

Additionally, Finavera maintained a minority ownership interest in Ireland’s 105 MW Cloosh Valley wind project, where SSE Renewables, a division of Scottish and Southern Energy, held the majority 90% stake. The company eventually sold its controlling interest in this project.