Finavera Renewables: Memorandum of Understanding

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Finavera Renewables Inc. is pleased to announce it has signed a Memorandum of Understanding ("MOU") with the Halfway River First Nation ("Halfway") for the development of the Company's four wind projects in the Peace Region of British Columbia. The MOU is a mechanism through which the Halfway River First Nation has provided its acknowledgement and acceptance for the Tumbler Ridge, Wildmare, Meikle, and Bullmoose Wind Projects. The MOU establishes the processes and sharing of benefits that will ensure an ongoing positive relationship with First Nations communities.

In return for their consent and support of Finavera's Wind Projects, the Halfway River First Nation will benefit through training, employment, business opportunities and financial participation in the project. Finavera commits to providing clean, renewable energy that brings benefits to First Nations and all British Columbians in a manner that respects Aboriginal and Treaty rights and minimizes environmental impacts.

Halfway River First Nation Chief Ed Whitford said, "This is a good day for us. Our community is looking forward to the opportunities in working with Finavera and we sincerely support Green Energy. I believe this is a win-win situation for our community, Finavera, and the Peace River Country".

Finavera Renewables CEO Jason Bak said, "We are extremely pleased to have in place with the Halfway River First Nation an agreement that confirms support for the project while recognizing the Nation's interests. We look forward to building on this partnership and providing economic and community opportunities to members of the Halfway River First Nation as we move towards building 300 megawatts of wind projects in British Columbia."

The agreement with Halfway River First Nation is the first of five such agreements that the Company hopes to conclude. The Company has signed a Partnership Agreement with the McLeod Lake Indian Band that provides a staged process to negotiate final terms of an MOU. Discussions with two other First Nations (West Moberly First Nation and Saulteau First Nation) are currently in progress. The Environmental Assessment Office recently instructed the Company to include Doig River First Nation in its consultation program and Finavera looks forward to building a strong relationship with Doig River First Nation.

Jason Bak, CEO

For more information:
Finavera Renewables
Myke Clark
SVP Business Development
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