BC Hydro Award Showers a Lift on Green Company’s Shares

BC Hydro Award Showers a Lift on Green Company’s Shares

Shares of tiny Finavera Renewables grabbed a doubled level on Friday after the Vancouver-based green power company was awarded four wind farm contracts from BC Hydro.

Hydro disclosed the awards following the stock trading closure on Thursday.

The company's CEO Jason Bak revealed that Finavera is included in the list of 10 companies that made it through a drawn-out Hydro call for new sources of renewable electricity and potential suitors are eager to back the company cherish its success.

Longueuil-based Innergex Renewable Energy Inc., a developer of small hydro plants and wind farms, posted yesterday it has been chosen by British Columbia Hydro for power-purchase pacts covering 113 MW of alternative energy projects.

Finavera shares registered a 14 cents closing price on the Toronto Venture Exchange, boosted from seven cents the previous day.

"Being the belle of the ball, it certainly opens up a number of doors to us and we definitely want to find the best deal for ourselves and ultimately, because these are good projects accepted by BC Hydro, the best deal for the ratepayer," Bak quoted.

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