Finavera Wind Energy
Corporate brand
UnclaimedFinavera Wind Energy was a Canadian renewable-energy developer focused primarily on wind farms in British Columbia, with earlier interests in wave-energy technology and a minority position in an Irish wind project.
Last updated August 31, 2026
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Overview
Finavera Wind Energy was a renewable-energy development company founded in Dublin, Ireland, in 2003 and later headquartered in Vancouver, British Columbia. The company operated under the name Finavera Renewables Inc. before becoming associated with the Finavera Wind Energy name. Its business centered on developing utility-scale renewable-generation projects rather than selling consumer products or electricity under a mass-market retail brand. The company initially pursued a broader renewable-energy strategy. In April 2005, it acquired a 10% interest in AquaEnergy Group, a wave-energy technology company, and acquired the remaining shares in 2006. AquaEnergy was converted into a wholly owned subsidiary and renamed Finavera Renewables Ocean Energy. Through that subsidiary, Finavera worked on the AquaBuOY wave-energy conversion technology and considered a project in Makah Bay off the coast of Newport, Oregon. The ocean-energy activity was subsequently sold in 2010, after which Finavera concentrated its resources on wind energy. Finavera's principal development platform was in northeastern British Columbia's Peace Region. The company developed four proposed or operating wind projects: Tumbler Ridge, Wildmare, Meikle, and Bullmoose. Together, these projects were described as having potential generation capacity of up to 301 megawatts, broadly equivalent to the electricity consumption of approximately 75,000 households. The projects were intended to supply power to the British Columbia electricity system under long-term power-purchase arrangements. In March 2010, BC Hydro selected Finavera for four 25-year electricity purchase agreements under its 2008 Clean Power Call. To support development financing and project execution, Finavera entered into a $7.5 million joint development agreement with GE Energy. These arrangements represented the company's principal commercial transition from project development toward a contracted utility-scale wind portfolio. Finavera also held a minority interest in the 105-megawatt Cloosh Valley wind project in Ireland. SSE Renewables, a subsidiary of Scottish and Southern Energy, held 90% of that project, making Finavera a minor partner rather than the controlling developer or operator. Finavera's shares began trading on the TSX Venture Exchange in 2007. The company remained a small, development-oriented renewable-energy enterprise, with its identity tied to the permitting, contracting, financing, and partnership of wind projects rather than to a large operating fleet. In 2017, Solar Alliance Energy Inc., which traded on the TSX Venture Exchange under the symbol SOLR, acquired Finavera Wind Energy. The acquisition ended Finavera's existence as an independent public company and marked the close of its period as a standalone Canadian wind-power brand.
History
Finavera Wind Energy emerged from a renewable-energy company founded in Dublin in 2003. The enterprise was initially broader than its later name suggests, combining wind development with an interest in emerging ocean-energy technology. In 2005, it purchased a 10% interest in AquaEnergy Group, and in 2006 it acquired the rest of that company. AquaEnergy became a wholly owned subsidiary and was renamed Finavera Renewables Ocean Energy. The ocean-energy subsidiary pursued the AquaBuOY wave-energy conversion system. Finavera considered deploying the technology at Makah Bay off the coast of Newport, Oregon, reflecting the company's early ambition to develop several forms of renewable generation. This line of activity did not become the company's long-term focus. In 2010, the ocean-energy subsidiary was sold, and Finavera redirected its corporate attention toward wind power. Finavera's main wind portfolio was located in the Peace Region of northeastern British Columbia. The company developed four projects known as Tumbler Ridge, Wildmare, Meikle, and Bullmoose. The combined program was described as capable of producing as much as 301 megawatts, a scale estimated to correspond to the needs of roughly 75,000 households. The projects placed Finavera within the independent-power-producer segment of the Canadian electricity market, where developers secure permits, financing, equipment relationships, and power-purchase contracts for utility-scale facilities. A key commercial milestone came in March 2010, when BC Hydro awarded Finavera four 25-year electricity purchase agreements under the utility's 2008 Clean Power Call. The agreements provided a prospective long-term market for the British Columbia projects. Finavera also entered into a $7.5 million joint development agreement with GE Energy to help finance and advance the wind program. The relationship linked the smaller developer with a major industrial energy-technology company, although the available reference material does not establish the ultimate construction status or operating history of every project. The company also maintained an international dimension through a minority interest in Ireland's Cloosh Valley wind project. The project had a stated capacity of 105 megawatts, with 90% owned by SSE Renewables, a subsidiary of Scottish and Southern Energy. Finavera's position was therefore that of a minor partner in a project controlled by a much larger energy group. Finavera became publicly traded on the TSX Venture Exchange in 2007. Its public-company identity was associated with renewable-project development and the potential expansion of contracted wind generation in British Columbia. Unlike a diversified utility, it was principally a project developer and partner, with its fortunes dependent on project advancement, contractual arrangements, capital, and transactions. In 2017, Solar Alliance Energy Inc., a TSX Venture Exchange-listed company trading under the symbol SOLR, acquired Finavera Wind Energy. The transaction ended Finavera's independent corporate life. As a result, Finavera is best understood historically as a Canadian wind-development company that moved from a multi-technology renewable strategy to a concentrated wind portfolio before being absorbed by another public renewable-energy company.
- 2017
Acquisition by Solar Alliance Energy
[1]Solar Alliance Energy acquired Finavera Wind Energy, ending its independent operation.
- 2010
Shift to wind energy
[1]The company sold its ocean-energy subsidiary and concentrated its business on wind development.
- 2010
BC Hydro contracts four projects
[1]BC Hydro awarded four 25-year electricity purchase agreements under its 2008 Clean Power Call.
- 2007
TSX Venture Exchange listing
[1]Finavera began listing shares on the TSX Venture Exchange.
- 2006
AquaEnergy becomes a wholly owned subsidiary
[1]Finavera acquired the remaining AquaEnergy shares and renamed the subsidiary Finavera Renewables Ocean Energy.
- 2005
Initial AquaEnergy investment
[1]Finavera acquired a 10% interest in AquaEnergy Group, beginning its wave-energy activities.
- 2003
Company founded in Dublin
[1]Finavera was established in Dublin, Ireland, as a renewable-energy development company.
Products and positioning
A small renewable-energy developer positioned around utility-scale wind projects, long-term power-purchase contracts, and partnerships with larger energy and technology companies. Earlier in its history, it presented a broader renewable-energy profile that included wave power, but its strategy ultimately narrowed to wind development.
Wind power project
Tumbler Ridge Wind Farm
One of four wind projects developed by Finavera in British Columbia's Peace Region. It formed part of a combined development program described as having up to 301 megawatts of potential capacity.
Wind power project
Wildmare Wind Farm
A proposed or developed Finavera wind project in northeastern British Columbia and part of the company's four-project Peace Region portfolio.
Wind power project
Meikle Wind Farm
A Peace Region wind project included in Finavera's British Columbia development program, which was supported by long-term BC Hydro purchase agreements.
Wind power project
Bullmoose Wind Farm
One of Finavera's four northeastern British Columbia wind developments, included in the company's broader 301-megawatt potential project program.
Wind power project
Cloosh Valley Wind Project
A 105-megawatt wind project in Ireland in which Finavera held a minority interest. SSE Renewables owned 90% of the project, leaving Finavera as a non-controlling partner.
Wave-energy technology
AquaBuOY
A wave-energy conversion technology pursued through Finavera's former ocean-energy subsidiary. The company considered a deployment in Makah Bay off the Oregon coast before selling the subsidiary in 2010.
Brand decisions
2017
Acquisition by Solar Alliance EnergyM&ABackground
Finavera was a publicly traded renewable-energy developer with wind interests in Canada and Ireland.
Action taken
Solar Alliance Energy Inc. acquired Finavera Wind Energy.
Aftermath
Finavera ceased to operate as an independent company.
2010
Concentration on wind energyStrategyBackground
Finavera had previously pursued both wind development and wave-energy technology through its AquaEnergy subsidiary.
Action taken
The company sold Finavera Renewables Ocean Energy and focused its remaining business on wind projects.
Aftermath
Finavera's corporate identity and development portfolio became centered on wind power, particularly projects in British Columbia.
2010
Wind-project financing partnership with GE EnergyStrategyBackground
Finavera needed development support for its four-project Peace Region wind program.
Action taken
Finavera entered a $7.5 million joint development agreement with GE Energy.
Aftermath
The agreement supported the company's effort to advance its British Columbia wind portfolio.
Joint development agreement value. $7.5 million (2010)
Sources1 sources
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