Finavera Renewables Awarded Four Electricity Purchase Agreements in BC Hydro Clean Power Call

By Finavera Renewables Inc, PRNE
Wednesday, March 10, 2010

293 Megawatts of Wind Projects Will Power More Than 75,000 Homes

VANCOUVER, March 11, 2010 - Finavera Renewables Inc. ('Finavera Renewables' or the 'Company') (TSX-V:
FVR) is pleased to announce all four of its wind projects, comprising a total
nameplate capacity of 293 megawatts ("MW"), submitted to the 2008 Clean Power
Call have been accepted by BC Hydro for award of long term Electricity
Purchase Agreements ("EPA"). BC Hydro, an S&P AAA rated, provincially owned
utility, is the third largest electric utility in Canada and serves 1.8
million customers in an area covering the majority of British Columbia's

The four projects have an estimated capital cost of $800 million and will
contribute to the provincial economy through 524,000 person hours of direct
construction labour and taxes paid to local and provincial governments. The
projects have the potential to generate over $100 million annually in revenue
once they are fully operational.

The four bid submissions were in response to BC Hydro's Request for
Proposals to help make British Columbia electricity self-sufficient by 2016,
and meet demand using 90% of all new energy from clean domestic generation
sources. The projects will provide clean, renewable power to more than 75,000
homes and are located in the Peace Region of British Columbia. Project
nameplate capacities and expected construction dates are as follows:

     Project                             Output      Expected Construction
     -------                             ------      ---------------------
     Wildmare Wind Energy Project         71 MW               2012
     Tumbler Ridge Wind Energy Project    45 MW               2012
     Meikle Wind Energy Project          117 MW               2013
     Bullmoose Wind Energy Project        60 MW               2014

The Electricity Purchase Agreements with BC Hydro provide a guaranteed
revenue stream and are the commercial cornerstones of any power project in
British Columbia, providing the basis to move forward towards project
construction and operation. The projects represent an optimal mix of
attractive firm energy pricing combined with accurate and realistic capital
costs. Finavera has agreed to commercial operation dates that provide
appropriate time and capacity to construct all four projects on schedule and
on budget.

Finavera Renewables CEO Jason Bak said, "The award of four electricity
purchase agreements from BC Hydro is an overwhelming success for Finavera
Renewables. This result illustrates the quality of our project fundamentals
and the tireless effort of our project development team. It also represents
an important milestone for our Company that validates years of hard work and
dedication and our belief that the projects we have identified are
attractive, commercially viable and sustainable."

Mr. Bak concluded, "Our goal is to become a leader in North American wind
energy project development and these electricity purchase agreements with BC
Hydro are a further significant step towards that objective."

The Company is now initiating the next phase of its project development
schedule and will be focusing on several key areas in the coming months:

First Nations Consultation

Finavera Renewables values First Nations as an integral party to these
projects and is committed to undertaking meaningful consultation with the
Nations throughout the stages of development, construction and operation of
the projects. The Company is very active in First Nations dialogue and
continues to build long-term relationships. Finavera looks forward to
continuing its dialogue with the four Treaty 8 First Nations in the project
areas: Saulteau First Nations, West Moberly First Nations, Halfway River
First Nation, and the McLeod Lake Indian Band.

Environmental Assessment and Permitting

The BC Environmental Assessment Office ("EAO") has accepted the Terms of
Reference for all four Finavera projects. The Company will complete minor
additional fieldwork in the summer of 2010 and submit its application for
Environmental Assessment Certificates in the fall of 2010. EA Certificates
are expected to be awarded in 2011. All necessary permits for securing
exclusive access to the lands for development of wind energy are in place and
in good standing. All other permits are on track for the proposed project
construction timelines.

Engineering and Construction

Finavera will commence final design and specification work and final
turbine negotiations for the near term projects. Balance of Plant cost
estimation and design optimization have already been completed by one of
Canada's most experienced wind energy construction companies as part of the
Company's Clean Power Call bid. A third-party review of all the projects'
energy yields was also completed to assist in establishing firm energy yields
for the projects.

Electricity Purchase Agreements are subject to the execution of contracts
and British Columbia Utilities Commission approval.

Jason Bak, CEO

About Finavera Renewables Inc. (

Finavera Renewables Inc. is dedicated to the development of renewable
energy resources and technologies. The Company's objective is to become a
major renewable and green energy producer by developing and operating its
assets in the wind sector. Finavera Renewables is developing wind energy
projects in Canada and Ireland. In British Columbia, Canada, projects
totaling 293 MW have been bid into, and accepted under, the 2008 BC Hydro
Clean Power Call. The Company also has several other licensed project areas
in B.C. under investigation. In Ireland, one pre-construction wind project is
under development with a potential capacity of 105MW. Data collection and
environmental studies have been continuing at a number of sites in both

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.

The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of, this release.

For further information: Finavera Renewables, Myke Clark, SVP Business
Development, Finavera Renewables, +1-604-288-9051,

For further information: Finavera Renewables, Myke Clark, SVP Business Development, Finavera Renewables, +1-604-288-9051, mclark at

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