Finavera Renewables Collects Wind Data at Five Canadian Sites

Finavera Renewables Limited announces a further step in the development of five Canadian wind projects with the erection of meteorological towers on proposed wind power project sites in the Peace Region of British Columbia (BC).

The company is collecting and analyzing wind speed and weather data from the towers in order to determine optimal sites for wind turbines, as well as the potential revenue generated from each project site. The meteorological tower installation program is key in the development of five projects at Little Boulder Creek, Mount Bickford, Mount Stephenson, Bullmoose Creek, and Mount Bennett. Currently, there are no wind farms operating in British Columbia. “British Columbia is a market in which we believe there will be significant developments in this sector over the next few years,” said Bertan Atalay, Finavera Renewables COO. “For the last five years, BC has been a net importer of energy. This, coupled with large amounts of hydropower, place BC in a perfectly synergetic position to capitalize on wind energy and become a net exporter again. Quebec has taken this approach and we have seen hundreds of megawatts (MW) added to the grid.” Finavera Renewables is committed to the development of the industry in BC. Across Canada, the wind energy industry contributed $736 million to the country’s Gross Domestic Product in 2005 (CanWEA). “We are confident that we can be cost competitive with hydrocarbons especially when the true cost of carbon is factored into the equation,” said Jason Bak, Finavera Renewables CEO. Finavera Renewables holds Investigative Use Permits for seven other potential wind farm sites in the Peace Region, on which the company will erect meteorological towers in Phase Two of its wind-monitoring program in 2007.

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