Finavera Renewables signs Development Funding Agreement

29 January 2010 -- Finavera Renewables Inc. (TSX-V: FVR) signed a Development Funding Agreement ("DFA") with a global renewable energy firm. Funding is intended to be used to meet ongoing cash flow requirements.

Finavera Renewables CEO Jason Bak said, "This agreement is a step towards obtaining final development funding for our BC wind projects upon the award of power purchase agreements in the BC Hydro Clean Power Call."

The funding is secured against a minority interest in the Company's Cloosh Valley wind project until such time as a further agreement is executed or it is repaid.

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