Finavera Wind Energy and Pattern Renewable Holdings Canada have completed the purchase and sale agreement for 184MW of wind projects, previously announced on April 29th, 2013, for gross cash consideration of US$ 28 million.
Concurrent with closing, Finavera has received consideration of US$ 9.3 million from Pattern. Commencement of construction site activities on the 184MW Meikle Project is expected in early 2015, with the balance of funds due to be paid to Finavera at the close of construction financing, subject to receipt of required permits and approvals.
