The Wildmare project, which is located in the Peace River region of BC, is the first of four projects Finavera is looking to build in the province.
GE will acquire 70% of the project in return for the funding. Finavera and GE said a 25-year power purchase agreement is in place with BC Hydro for Wildmare and the three upcoming projects.
In total, Finavera hopes the four BC wind projects will have a combined capacity of 293MW.
In July last year, Finavera has secured an initial C$7.5 million from GE to develop the four wind energy projects. It said GE would also be the preferred wind turbine supplier for the projects.
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