07.09.07

7.9.2007: Meldung: Finavera Renewables successfully deploys and commissions the AquaBuOY 2.0 wave energy converter

Vancouver, Canada, September 6h 2007 - Finavera Renewables Inc. ("Finavera
Renewables" or "The Company") (TSX-V: FVR) is pleased to announce it has
successfully completed a major milestone in its wave energy development
program with the deployment and commissioning of the AquaBuOY 2.0 wave
energy converter off the coast of Newport, Oregon. This marks the first
installation of a wave energy converter of this scale off the west coast of
North America and moves the Company closer to achieving its goal of
commercial electricity generation from ocean waves by 2010.

The AquaBuOY 2.0 is situated approximately two and a half miles off the
coast of Newport, Oregon. Over the next several weeks, Finavera Renewables
will test and analyze the performance of the Aqua Buoy"s components and
monitor its hydraulic power output. During this phase, all onboard
diagnostic equipment will be powered by an onboard Pelton turbine as well as
solar panels and small wind turbines installed on the device. Data is being
streamed live via wireless and satellite technology for analysis. This test
data will be used for the next design iteration of the wave energy
converter, with an anticipated deployment in 2008.

The Company is advancing along its project development plan with the phased
installation of a multi-device wave park and commercial electricity
generation by 2010. The Company currently has wave energy projects totaling
more than 250 megawatts (MW) planned or under development on the west coast
of North America.

Oregon Governor Ted Kulongoski said, "Oregon is becoming recognized as the
nation"s renewable energy capital and this demonstration wave energy
conversion project is another key step to ensuring we"re able to grow this
critical industry while also protecting established key industries such as
commercial fishing and crabbing. We are pleased to have Finavera Renewables
partner with Oregon Iron Works to develop, build and site its first wave
energy converter in Oregon. I look forward to continuing to work with all
sectors to help Oregon achieve energy independence while both creating new
economic opportunities and supporting existing ones."

Finavera Renewables CEO Jason Bak said, "The mooring and successful
commissioning of the AquaBuOY 2.0 is a momentous achievement for Finavera
Renewables and the ocean energy industry as a whole. The capture of
renewable wave energy will play a significant part in the emerging new
energy economy and has the potential to power millions of homes in the
United States alone. The Company is committed to aggressively developing its
technology through its engineering team and will also work with financial
partners in order to structure project finance and obtain commercial debt
for the roll out of this innovative technology."

Finavera Renewables would like to thank those involved in the construction
and deployment of the AquaBuOY 2.0: Oregon Iron Works, Science Applications
International Corporation (SAIC), the crew of the Salvage Chief from Fred
Devine Diving and Salvage, the Oregon state government, the community of
Newport, Oregon, and the local Fisherman"s Committee for their help and
assistance in achieving this installation on schedule and with success.

Video and photos of the deployment can be found at: www.finavera.com.

On behalf of the Board of Directors,
Jason Bak, CEO

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. 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.

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