19.01.08

19.1.2008: Meldung: Finavera Renewables Inc.: environmental field work completed

Vancouver, Canada, January 18th 2008 - Finavera Renewables Inc. ("Finavera
Renewables" or the "Company") is pleased to announce it has
completed all of the significant environmental field work on its 75 megawatt
Ghost Pine wind project in Alberta, Canada. The field work included
wildlife, vegetation and land use studies, historical resource
investigations and approvals, avian and raptor surveys, and preliminary
geotechnical surveys. The project"s final detailed design is close to
conclusion and the next step is to submit a planning application to the
Alberta Energy and Utilities Board (EUB). The EUB application is expected to
be submitted this spring, and if approved, will result in portions of
construction commencing in the fall of this year. It is expected that
turbine foundation construction and erection would take place in 2009 with a
targeted in service date of December 2009. The Company is currently
negotiating financing options for the project

Key project highlights:

. Environmental field work, preliminary design, turbine siting and
wind data analysis completed. Detailed design and EUB application underway.
. An interconnection commitment from the Alberta Electrical Services
Operator. Interconnection facility deposit paid in the amount of $1.8
million.
. Turbine supply contract negotiations underway.
. Lease options for 16,000 acres in project area, 25 year land leases
available on exercise of the land lease options.
. Potential Phase 2 with additional an additional 75 MW capacity, wind
resource assessment currently underway.

Finavera Renewables CEO Jason Bak said, "The Ghost Pine wind project is our
most advanced wind asset and we are now moving into an integral phase in its
development. If approved, it is planned that the Ghost Pine wind project
will quickly move from the development phase to the construction phase. It
is exciting to see this advanced project hitting key milestones on the path
to construction and revenue generation for Finavera Renewables."

Jason Bak, CEO

For more information, contact the company at: 604-288-9051, or by email at
info@finavera.com.

Media may contact Myke Clark, VP Policy & Public Relations at
mclark@finavera.com or Jai Ferguson of Weber Shandwick at
jferguson@webershandwick.com.

About Finavera Renewables Inc. (www.finavera.com)
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 and wave energy sectors. Finavera Renewables Inc. is developing
the licensed and patented "AquaBuOY" wave energy technology, a device that
is based on proven and sustainable buoy technology. The Company is
developing wave energy projects for AquaBuOY use in the United States,
Portugal, South Africa and Canada. One of those projects, in California,
has secured a 2MW power purchase agreement with Pacific Gas and Electric.
The Company is also developing other wind energy projects in Canada and
Ireland. In Canada, a two stage 150 MW project is being developed in
Alberta. Construction on this advance stage project is estimated to begin in
2008 and provides for near term revenue. In British Columbia, four projects
totaling 366 MW have been entered into the provincial Environmental
Assessment process, and several other sites are being developed. In Ireland,
two pre-construction wind projects are under development with a potential
capacity of 175MW. Data collection and environmental studies have been
continuing at a number of sites in both countries.
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