|By PR Newswire||
|July 30, 2014 08:36 AM EDT|
VANCOUVER, July 30, 2014 /PRNewswire/ - Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company') (TSX-V: FVR) is pleased to announce it has received a final $16.5 million of consideration, primarily in the form of debt forgiveness, from Pattern Renewable Holdings Canada ULC, a subsidiary of Pattern Energy Group LP ('Pattern Development') as the final amount payable under the Purchase and Sale Agreement for 184 megawatts (MW) of wind projects, previously announced on April 29th, 2013. The final consideration has been received earlier than the anticipated date in Q1 2015, based in part on the successful development of the Meikle Project. The $16.5 million consideration is in addition to the $9.3 million previously received by the Company from Pattern Development as previously announced on April 17th, 2014.
The receipt of the final payment from Pattern Development was used primarily to retire secured debt in the Company. Combined with the recent sale of the Company's remaining 10% interest in the Cloosh Valley Wind Project for €2.1 million, this transaction is another step towards a stronger balance sheet and the ability to capitalize on new opportunities in the renewable energy marketplace. Further information on the Company's strategic plan will be released in advance of the Company's AGM on September 12th, 2014.
Jason Bak, CEO
About Finavera Wind Energy Inc. (www.finavera.com)
Finavera Wind Energy is a company focused on developing renewable energy opportunities. Our mission is to create and operate a diversified portfolio of renewable energy projects while protecting and enhancing the physical and social environment. Finavera has developed over 360MW of wind projects and subsequently sold them to utilities or large independent power producers. Finavera is continuing to opportunistically review prospects for growth and the enhancement of shareholder value.
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE Finavera Wind Energy Inc.
Sep. 28, 2016 04:15 AM EDT Reads: 4,575
Sep. 28, 2016 04:00 AM EDT Reads: 437
Sep. 28, 2016 03:30 AM EDT Reads: 3,108
Sep. 28, 2016 03:30 AM EDT Reads: 1,761
Sep. 28, 2016 03:15 AM EDT Reads: 2,978
Sep. 28, 2016 03:00 AM EDT Reads: 1,828
Sep. 28, 2016 03:00 AM EDT Reads: 1,777
Sep. 28, 2016 02:45 AM EDT Reads: 1,881
Sep. 28, 2016 02:15 AM EDT Reads: 1,338
Sep. 28, 2016 02:00 AM EDT Reads: 1,135
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Sep. 28, 2016 01:45 AM EDT Reads: 2,791
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Sep. 28, 2016 01:45 AM EDT Reads: 2,891
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Sep. 28, 2016 01:45 AM EDT Reads: 3,038
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 28, 2016 01:30 AM EDT Reads: 2,033
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Sep. 28, 2016 01:00 AM EDT Reads: 1,564