Vancouver, BC (canadaTECH.INFO) – March 18, 2009 - Finavera Renewables Inc. (TSX-V: FVR) announced today that subject to TSX Venture Exchange approval it has closed a non-brokered private placement consisting of 10,500,000 units at a price of $0.05 per unit for gross proceeds of $525,000. Each unit consists of one common share and one-half of a share purchase warrant, with each full warrant exercisable at $0.10 for 12 months from the date of closing of the private placement.

Proceeds of the placement will be used for the continued development of Finavera Renewables' wind energy projects and for general working capital.

Vancouver based Finavera Renewables Inc. is dedicated to the development of renewable energy resources and technologies. Its objective is to become a major renewable and green energy producer by developing and operating its assets in the wind sector. Finavera Renewables is developing wind energy projects in Canada and Ireland. In British Columbia, Canada, projects totaling 293 MW have been bid into the 2008 BC Hydro Clean Power Call. In Alberta, one 75 MW project is 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.