BC Hydro has chosen another group of projects for signing electricity purchase agreements for new sources of electricity. The power authority announced the agreements with the second group of projects on Wednesday.

Shares of tiny Finavera Renewables grabbed a doubled level on Friday after the Vancouver-based green power company was awarded four wind farm contracts from BC Hydro.

Hydro disclosed the awards following the stock trading closure on Thursday.

BC Hydro has put forth a proposal to raise its rates by 9.26% this year, as it looks forward to meet its needs in the energy projects in the upcoming years.

The rate hike is proposed by Hydro's Crown Corporation. If the B. C. Utilities Commission accepts it, the hike in the rate will raise average customer's monthly payments by about $7.