Finavera Renewables Inc. (FNVRF) 0.0626 $FNVRF
Finavera Arranges Loan for Solar Alliance Acquisition
M2 - Thu May 28, 8:44AM CDT
Finavera Wind Energy Inc. ('Finavera Wind Energy', 'Finavera' or the 'Company'

(TSX-V: FVR) is pleased to announce that it has received approval from TSX Venture Exchange and closed a secured loan facility for EUR3,757,000 (approximately $5,080,000 CAD) from a consortium of lenders through the Company's subsidiary, Finavera Renewables Ireland Limited ('Finavera Renewables'

, in order to complete the acquisition of Solar Alliance of America, a residential solar sales and marketing firm ('Solar Alliance'

, and for general working capital. As previously announced, Finavera will acquire Solar Alliance for 11,915,238 shares of the Company and contingent payments of up to $4 million USD in cash comprised of up to four instalments of $1 million USD, subject to certain closing conditions. This loan facility will allow the Company to scale up Solar Alliance's operations in California though an increased sales presence and additional installation and financing partnerships. The loan has a one year term and is repayable from the EUR7.14 million (approximately $9.64 million CAD) of proceeds from the sale of the Cloosh Valley Wind Project, expected in 2015.
FVR.VN: 0.095 (unch)
2 Clean Energy Speculations For 2014: Wrap-Up
Tom Konrad, CFA - Seeking Alpha - Wed Dec 10, 6:42AM CST
I included two "Clean Energy Speculations" along with my annual model portfolio of ten clean energy stocks this year. It's been a tough year for clean energy stocks in general, with my industry benchmark (PowerShares WilderHill Clean...